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AD=C+I+G+X-M1) Increased cost of borrowing-ConsumptionVariable rate mortgages will now have higher monthly interestrepayments. This leads to a decrease in disposable income for consumers.Consumers ...
A demerit good is a good which is generally both harmful or unhealthy to the consumer - in most instances, they also carry negative externalities, which are costs imposed onto third parties. An example of...
In order to answer, one should consider the benefits of profit maximisation. These may include: satisfying shareholders, using money for savings in order to stay afloat, reinvesting profits into technolog...
The marginal product of capital (MPK) is defined as the additional unit of output, all things being equal, that comes with an additional unit of capital used.The equation for MPK is: change in outpu...
We want to maximize U(x,y) subject to the constraint M = px + qy, where M is monetary income and p,q are the prices of x and y respectively. Since this is a constrained optimization problem we can use th...
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