Calculate equilibrium income
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Every day you will get to know details about various aspects of economy join our website.What is the study of economics? Types of economics? Microeconomics, what is Investment? What is Unemployment? Types of Unemployment, Types Of Inflation, Causes of Inflation, What is Market? Different types of Market, Monopoly, Oligopoly, duopoly, Perfect competition Market, Walras' Law, Different types Economics law? Adam Smith law, What is Tax? Different types of Tax.What is vat? What is GST? What is GDP?
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Consumption function shows the positive relationship between income and consumption.
When income increases, consumption also increases for normal goods and when income decreases, consumption also decreases for normal goods.
Consumption functions can be expressed as...
C=A+bY
C=consumption function
A=Autonomous consumption
b=marginal propensity to consume
Y=Disposable income.
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Today we can buy a product at the price,after inflation it will not be possible to buy that product at that price.Beacuase inflation increase the price of the product and reduces the purchasing power of people.The value of money decreases. As a result,a product has to be bought at a higher price.
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What is durable goods??
The goods which do not spoil easily and can be consumed over a long period of time are called durable goods.Labels: Feature, Features, learning Economics
What is Macroeconomics?
Macroeconomics deals with the whole economy and describes various economic components like GDP, inflation ,unemployment, economic growth , recession and boom period of economy etc.Labels: Economics tips, Features
What is profit?
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Consumers are also called buyers and households. That is, consumers refer to those who buy various goods and services from sellers or producers
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Two sector Model is the basic economic model.In two sector Model, there is two components. such as: households and firms.In two two sector Model Households provide factor of production to produce goods and services.In stead of factor of production households get factors of payments.Households use their factor of payment to purchase goods and services and firms provide to households goods and services in stead of consumer spending.In this model there is no savings and investment.Houesholds spend all of their income to purchase commodity.
What is Monopoly Market? Characteristics Of Monopoly Market?
Monopoly is a Market structure in which there is a single seller and large number of buyers,there are no close substitutes for the commodity it produces and there are barriers to entry.
For Examples of Monopoly Market: Microsoft, Facebook, Google, Railways.
Characteristics Of Monopoly
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The rate of net investment is I=40t^3/5 and Capita stock at t =0 is 75 .Find the capital function K
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