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What is soft budget constraint?
In organizations, soft budget constraints are used to describe shortages of certain items. It is used to describe that there is an overwhelming demand for a certain product and the demand exceeds the amount of the product being made or manufactured.
If you were positioned a bit further south would the curve traced out by the sun be higher or lower in the sky?
i have the same question
What is the duration of The Learning Curve?
The duration of The Learning Curve is 1.88 hours.
What is the duration of Deadman's Curve?
The duration of Deadman's Curve is 1.67 hours.
What was the Production Budget for The Core?
The Production Budget for The Core was $85,000,000.
How the indifference curve and budget line apparatus are used to derive a consumer's demand curve?
Indifference curve: series of curve reflecting the preference structure of the individual. Budget constraint: the material resource constraint the individual faces in choices. The demand curve, being inherently designated as rational, seeks to maximise utility. Thus, in a Walrasian equilibrium, the consumer construct his demand curve at the points where his contract curve equals to his budget constraint (or, in mathematical terms, when the constraint and optimal indifferences are tangent to one another). These tangencies construct a curve which is the individual's demand function.
What is the tangent between a budget constraint and an indifference curve on an indifference map?
It is the equilibrium point of utility maximization.
What is the relationship between indifference curve and budget constraint?
The tangency point of Indifference curve and budget line shows the Marginal Rate of Substitution between X and Y commodities. Consumer's equilibrium is achieved at that point.
What are the different travel constraint?
budget constraints
What was the Production Budget for Trouble with the Curve?
The Production Budget for Trouble with the Curve was $60,000,000.
What is the difference between indifference curve and isoquent?
The former is related to the consumer problem whereas the latter comes from the producer problem. Consumer: What is the amount of goods to consume with his budget constraint This curve represents the combinations of goods between which the consumer is indifferent. Producer: What to produce with the given amount of productive factors. The isoquant shows the combinations of factors with which the firm get the same production.
How can one determine their budget constraint effectively"?
To determine your budget constraint effectively, calculate your total income and list all your expenses. Compare the two to see how much money you have left after covering your essential costs. This remaining amount is your budget constraint, showing how much you can afford to spend on non-essential items or savings.
What is project constraint?
The primary constraints are scope, time, quality and budget.
What does budget line show and what are its two basic properties?
Budget line(bl) is tangent to the indifference curve(ic) the slope of bl is same as that of ic.
How can price consumption curve be used to hep determine the individual demand curve?
The price-consumption curve explains how changes in the cost of a good, relative to another good, also effects an individuals consumption choices. The individual demand curve takes a single good and explains the relationship between the cost of that good, and the quantity demanded. Therefore shifts in the indifference curves (PCC) based on consumption possibilities, should correlate to the shifts in the demand curves. The easiest way to look at it, is that that your horizontal axis points on both your budget line, and your individual demand curve, should be the same. Your Vertical axises will differ because they are measuring different costs, ie, monetary cost (Demand Curve) and oppurtunity cost (budget line/constraint).
Graphically demonstrate the fisher separation theoreem for the case where an individual ends up lending infinancial markets?
The Fisher separation theorem states that an individual's investment decisions can be separated from their consumption decisions. Graphically, this can be represented by an indifference curve diagram where the budget constraint shifts due to lending in financial markets. When an individual lends, they effectively alter their consumption possibilities by moving along their indifference curve to a point where they can achieve a higher level of utility through interest income, allowing for future consumption. The optimal investment choice lies where the highest indifference curve is tangent to the new budget constraint, demonstrating that the individual focuses on maximizing utility independently of their current consumption preferences.
What is the fundamental reason people must choose which goods to buy and consume?
They are limited by a budget constraint.
