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N2U5 Economics And Management  

Pages : 13 | Type : Essay

Answer: Introduction: Neoclassical economics represents an approach that deals with demand for and supply of a product in market considering rationality of an individual and firm. The chief focus of the firm is to maximise utility while for an individual the chief focus is utility maximisation. To analyse these economic concepts, neoclassical economists intend to use mathematical equations (Foss and Klein 2015). On the contrary, behavioural e...

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Written By : Mark     Posted On : Jun 25, 2021     Download : 0

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