The Hicksian welfare measures can be used for the evaluation of any change of state as long as the agent's indirect utility for income is well defined before and after the change. The set of optimal commodity vectors in the EMP is denoted as h(p,u) ⊂ RL+. It is known as the Hicksian or compensated demand corresponding or function if [...]
The theory of revealed preference allows us to use information about consumer choices to inter how the consumer must rank bundles if he is maximizing utility with budget constraints. Alternatively, the revealed preference model explains that how the consumer spends his income with given prices of different commodities. The change in price allows consumer to buy of more or less [...]
Here is an essay on the ‘Supply of Commodities’ for class 11 and 12. Find paragraphs, long and short essays on the ‘Supply of Commodities ’ especially written for school and college students in Hindi language. Essay on the Supply of Commodities Essay Contents: वस्तुओं की पूर्ति की परिभाषाएँ (Definition of Supply of Commodities) पूर्ति तालिका (Supply Schedule) वस्तुओं की [...]