Microeconomics (Christopher T.S. Ragan) (z-lib.org)

15.2 Present Value Suppose a firm buys a piece of capital equipment and thereby obtains the use of that equipment until it wears ...

British theorists in the “Cambridge tradition.” His Principles of Economics, published in 1890, replaced Mill’s Principles as th ...

In what follows, we simplify our discussion by assuming that the future benefits from a piece of capital equipment are known wit ...

opposition to the methods that Marshall was putting forward. History has shown that both the partial and the general equilibrium ...

Table15-1 The Present Value of a Single Sum One Year in the Future Anyone who lends out $95.24 for one year at 5 percent interes ...

In 1899, Veblen published The Theory of the Leisure Class, in which he sought to apply Charles Darwin’s evolutionism to the stud ...

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Vilfredo Pareto (1848–1923) Vilfredo Pareto was an Italian, born in Paris, and was trained to be an engineer. Though he actually ...

Several Periods in the Future Now we know how to calculate the present value of a single sum that is receivable one year in the ...

Pareto built on the system of general equilibrium that Walras had developed. In his Cours d’économie politique (1897) and his Ma ...

Table15-2 The Present Value of a Single Sum Several Years in the Future Table 15-2 computes the present value of an MRP of $500 ...

Joseph Schumpeter was born in Triesch, Moravia (now in the Czech Republic). He was a university professor and later a minister o ...

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John Maynard Keynes (1883– John Maynard Keynes was born in Cambridge, England. His parents were both intellectuals, and his ...

The Present Value of a Stream of Future Sums Now consider the present value of a stream of payments that continues for many peri ...

Alfred Marshall and Arthur Pigou. His career included appointments to the Treasury in Britain during both world wars, a leading ...

Table15-3 The Present Value of a Stream of Future Sums In general, if is the MRP that occurs t years from now, if i is the inter ...

of aggregate demand, which would offset any increase in employment. Keynes argued that unemployment could be cured only by manip ...

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Edward Chamberlin was born in La Conner, Washington, and received his Ph.D. from Harvard University in 1927. He became a full pr ...