Make distinction between any three of the followings:
(i) Weak preference and strong preference
(ii) Numeraire good and non-discrete good
(iii) Homogenous function and Homothetic function
(iv) Compensating variation and Equivalent variation.
(2) Numeraire good:-
Numeraire is an economic term that represents a unit in which prices are measured. A numeraire is _____ _______ __________ _________ ________ _______ _______ __________ _________.
__________ _________ ____ _______ _______ ________ _________ _____ _______ ________ ____ ______.
______ _______ _________ _________ ___ _______ ____.
________ ____ ______ _______ __________ ________ _________.
______ _________ ____ ______ ___ _______.
__________ _____ __________ ___ _____ _____ ___ ________ _______ ________ ______.
_________ ____ _______ _________ ________ ___ _____.
__________ ___ ________ _______ _________ __________ __________ ___ ____.
_____ ________ ______ ________ ___.
____ _______ ______ _________ ___ ___ _______.
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