A neoclassical theory of economics assumes that the behaviour of the company seeks to maximize profit, and that the marginal cost of a good (the cost of an additional unit of production) is equal to its price. So, in a perfect balance to the market, it will equal marginal cost and marginal utility of the price of an asset. Neoclassical economics study the relationship between enterprises and consumers.
Our experts can help you understand neoclassical economics as a discipline of economics that is shaped on the ideas of classical economics of the free market model in the entire functioning of the market. The most famous economist of the neoclassical school was Alfred Marshall, who coined the concept of marginal analysis.
Neoclassical starting points, which assumes that the aim of the markets is to stabilize, have been brought into question by Keynes, thus causing it to decrease in popularity after World War II and during the decades in which Keynesian economics dominated. Our experts can help you distinguish between these different schools in your project, and analyze the effect of each. Trust the experts at Homework Help Canada, get a quote now.