Tag Archives | Microeconomics

Producer’s Equilibrium: MR-MC Approach, Perfect Competition and Diagrams

Producer’s Equilibrium: MR-MC Approach, Perfect Competition and Diagrams! Conditions of Producer's Equilibrium – MR-MC Approach: Producer's equilibrium is often explained in terms of marginal revenue (MR) and marginal cost (MC) of production. Profit is maximized (or a producer strikes his equilibrium) when two conditions are satisfied - (i) MR = MC, and (ii) MC is rising (or MC is greater [...]

By |2018-06-18T10:58:06+05:30June 18, 2018|Producers Equilibrium|Comments Off on Producer’s Equilibrium: MR-MC Approach, Perfect Competition and Diagrams

Term Paper on the Utility Function | Consumer | Microeconomics

Here is a term paper on the ‘Utility Function’ for class 9, 10, 11 and 12. Find paragraphs, long and short term papers on the ‘Utility Function’ especially written for school and college students. Term Paper on Utility Function Term Paper Contents: Term Paper on the Introduction to Utility Function Term Paper on the Lexicographic Ordering Term Paper on the [...]

By |2017-06-08T11:57:24+05:30June 8, 2017|Consumer Utility|Comments Off on Term Paper on the Utility Function | Consumer | Microeconomics

The Hicksian Demand Function: With Diagram | Utility | Microeconomics

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 [...]

By |2017-06-08T11:57:24+05:30June 8, 2017|Utility|Comments Off on The Hicksian Demand Function: With Diagram | Utility | Microeconomics
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