Indifference curve

point C. This would be on a higher indifference curve of U compared to the indifference curve that would be on point P (not shown). Assuming these initial conditions, suppose an export biased growth causes the PPF to shift to A’B’ (assuming good 1 is the exported good). This would lead to a change in the relative price of the two goods and so a change in the Isovalue line. The new Isovalue line is tangent to the new PPF at point P’. The highest indifference curve the economy can attain now is U’…

crashing against Meursault like waves on the beach. Three aspects affect his mood; temperature, weather, and light. These affect Meursault, but do not necessarily make him a more sympathetic character. His existential crisis makes him less open to the indifference of the world until the end of the novel when he is sentenced to death and finally opens himself up. Temperature affects Meursault in a negative manner, he explains heat as being oppressive and in his mind, justifies the…

When using Vendler’s thirteen steps to describe a poem step number six is titled the skeleton, which she defines it as the emotional curve “on which the whole poem is arranged” (132). “We Assume: On the Death of Our Son, Reuben Masai Harper” by Michael Harper, is about the death of his newborn son, Reuben Masai Harper. Since the emotional curve is about a father mourning for the death of his son this poem is an elegy. Most elegies follow the emotional pattern of deep mourning for the…

Having seen the how past government programs can shift the distribution of wealth in the United States, it is important to recognize how effective government run social and anti-poverty programs are to providing profitable opportunities for impoverished citizens and communities. In the democracy we live in, income distribution offers incentive to become more productive and successful should compel citizens to work harder and earn more. (Tucker 324) However, there will always be uncontrollable…

and basketball have much similar and difference. In similar, soccer and basketball have a bound to limit their players not to go anywhere, and they both have a fault for out of bound. Soccer has penalty kick, and basketball has the free throw. Indifference, soccer does not allow players to have any activities with the ball by hands, except the goalkeeper. In a basketball game, players use their hands to play with the ball in the entire time and will not allow kicking the ball. Also, soccer is an…

E. out of Gypsum. What drew me to these reliefs, and caused me to choose them, is the organized and rigid nature of them. Every detail, be it on the beards, wings, hair, or clothing, is clearly defined by deep indentations of solid, dark lines and curves. Though the faces and bodies are not particularly true to life in their depiction, their stylized nature gives them character and uniqueness. The two reliefs are typical of the Assyrian style, which can be reinforced by the fact that they are…

Q2. What is an inferior good? If the price of an inferior good falls what can we say about the quantity consumed? Explain Definition Consumer’s demand for goods depend upon the level of income. Inferior goods are defined as goods for which quantity demanded decreases with an increase in consumer’s income and quantity demanded increases with a fall in consumer’s income. This happens when the goods have relatively expensive substitutes available whose demand increases when the consumer becomes…

The neoclassical economic model gives an exceptionally fulfilling clarification of why parties are willing to join hands and enter into a contracts. Parties enter into contracts with their own free will without any coercion. Hence each party will enter into a contract only if its anticipated benefits are greater than the expected costs. For example assume that a house owner offers to pay a painter $5,000 to paint her home. The house owner must expect the value of the benefits she receives from…

In the book The Geography of Bliss from Eric Weiner, through the first four chapters Weiner visits the Netherlands, Switzerland, Bhutan and Qatar to discover the factors that makes these countries happy. People in both the Netherlands and Switzerland are provided healthcare and education, since both are socially-minded European countries. But one, the Netherlands, has a loose lifestyle, while Switzerland has strict social rules. In the other two countries, Bhutan and Qatar, one focuses too much…

When Abraham Lincoln comes to mind, people think of a genius tactician and fluent public speaker. One of those statements is correct. While Lincoln learned to be Commander in Chief on the fly, he quickly picked up strategies, and with the help of his colleagues, reunited the entire country. This paper intends to give general knowledge of Lincoln leading up to the split of the nation, while also informing of his ability, or lack thereof, to formally lead an army into battle. In order to…