Demand for a poorer good
Household’s demand for a poorer good tends to fall if: (1) Supplies of complementary goods increase. (2) Prices of alternate goods increase. (3) Family income rises. (4) Its own price drops/falls. Can someone help me in getting through this problem.
Household’s demand for a poorer good tends to fall if: (1) Supplies of complementary goods increase. (2) Prices of alternate goods increase. (3) Family income rises. (4) Its own price drops/falls.
Can someone help me in getting through this problem.
I have problem in this question. What is lexicographic preference ordering? Provide me correct answer of this.
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Choosing a statistical Model: A number of problems arise in determining whether the work is truly rigorous or not. It is important to determine whether the model chosen makes theoretical and intuitive sense. <
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