Law Info Nepal

7 B. Neo-classical (Jevons, Menger, Walras, Marshall; 1870s–1920s)

यो उत्तर युनिट १ मा छ — पूरै निःशुल्क।

• The marginal revolution: value from marginal utility, not labour (ECO-I 2.5's bridge); analysis at the margin (the optimizing agent);

• Marshall's partial equilibrium: supply and demand's scissors, ceteris paribus (ECO-I Unit 2's apparatus); Walras's general equilibrium (all markets interlinked); efficiency and welfare theorems' foundation (Unit 6.3's economics);

• Policy: markets efficient; the state corrects at the edges; the self-correcting economy (price flexibility) — unemployment temporary.

यही युनिटका अरू उत्तर

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