Economy, asked by shubhsahu6952, 1 year ago

Houthakker and taylor's dynamic model micro economics

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Answered by krishnayya3
0

Answer:

Stone extended the dynamic formulation to a wider range of commodities. Houthakker and Taylor' generalized the dynamisation of demand functions. A widely used model, both in demand functions and in investment functions, is the model based on the 'stock-adjustment principle', which has been developed by Nerlove

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