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Indifference curves: The indifference curve represents the consumer’s preferences that gives him the same amount of satisfaction. The union of the points in the graph outlines a curve along which the level of utility or satisfaction is constant. For example, in the graph down here, there is the good “bread” on the vertical axis and the good “meat” on the horizontal one. The two points B and C are related to different combinations of the goods, called “bundles”, and both of them have the same level

LEARNING CURVE CONCEPT AND ITS USEFULNESS IN MANAGEMENT DECISIONS Presented ByKriti Agarwal (A002) Aniket Rane(A046) Nitin Gupta(A024) Eshan Singh(A057) Mayank Bhatia(A013) HISTORY Introduced to the aircraft industry in 1936 by T. P. Wright in his article Journal of the Aeronautical Science He found that per unit production time reduced at an unvarying rate Since then, learning curves (also known as progress functions) have been applied to all types of work INTRODUCTION A graphical representation

Bell Curve Scoring Whenever you hear the phrase “graded on a curve” the class splits into two types of people: the confident and the terribly stressed. In my school, there is an established grading scale meaning whatever score an individual gets on an assignment is comparable to a rubric and gets a score based on his sole abilities. Grading on a curve is a bit different. This grading method calculates the average grade and determines how each student compared to the average. Bell curve grading doesn’t

Lorenze Curve The Lorenz curve originated from the early part of the twentiteth century when Max Otto Lorenz published a paper in 1905 in an American statistical journal outlining the technique which was to bear his name. However, it was the work on poverty and income inequality by Sir Tony Atkinson during the 1970s that led to the popular dissemination and development of the original work of Lorenz. The Lorenz curve can be explained as an extension of the ogive that is used in economics to show

typical indifference curve The consumer is indifferent between combinations A (4food and 45clothing) and B (6food and 30 clothing). Thus the rate at which the consumer is willing to substitute is MRS = ΔY/ΔX = 45 - 30 / 4 - 6 = - 7.5 The MRS is 7.5, meaning that the consumer is willing to give up 7.5 units of clothing for each unit of food added. 4. Indifference curves are the further from the origin, the greater level of utility associated with the curve. Combinations of goods

The Phillips Curve Economists agree that unemployment and inflation are two of the major macroeconomic problems of the twentieth century. If a relationship between the two existed then this would be a major break through for the macro management of the economy. Phillips' work was empirical - started with evidence and worked towards a theory. The causation for the Phillips theory was that the level of unemployment caused the rate of change in money wages to be what it was. 'What economic

The Living Yield Curve at SmartMoney.com More SEARCH Search or Quote Sunday March 15, 2009 9:44 PM ET HOME INVESTING SPENDING PERSONAL FINANCE TOOLS PORTFOLIO Login | Register | Help | Select FINANCIAL Bonds BIZ | Economy HELPLINE: | ETFs Have | Market a question Update |for Mutual SmartMoney? Funds | Short Email Termask@smartmoney.com Investing | Stocks or call us toll-free at 866-219-0687. SMALL BONDS Published September 29, 2000 | A AA MARKETS MY QUOTES MOST ACTIVE Index Price

Supplement to Unit - II BEHIND THE DEMAND CURVE: THE THEORY OF CONSUMER CHOICE Here, the purpose is to explain the derivation of the demand function and to provide an understanding of the consumer decision-making process. Consumer Preferences Individuals make choices based on their personal tastes and preferences. Tastes and preferences are shaped by many factors. Some of the factors are family environment, physical condition, age, sex, education, religion, and location. In the analysis that

of the yield curve. In your answer also discuss the uses of the yield curve in financial markets, why strips are used in the construction of yield curves and why investors would want to invest in zero coupon bonds or strips. The yield curve is a graph that plots the yields of similar-quality bonds against their maturities, ranging from shortest to longest. The relationship between yield and maturity is referred to as the term structure of interest rates. The Treasury yield curve is the base or

Introduction The point Arthur Laffer made when he brought up what later became “the Laffer curve” was that government implementations have both short and long term impacts on the people, and that those impacts are directly dependent on incentives: positive or negative. In their most primal forms, positive incentives would be subsidies and negative incentives would be taxes. The Laffer curve, although very hard to accurately estimate, is very powerful in its shape. The understanding of its shape