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how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
(a) What is meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence? (b) Explain in details the Generalised least Square procedure
Hi I need help with elasticity. I think the problem has already been posted to your site.
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
The Concept of Efficiency is stated below: To illustrate this concept of the efficiency, it is used to expand the understanding of what is meant by the Pareto-efficient allocat
Discuss about the language and methods of mathematics in modern economics. Language and Methods of Mathematics: This section reviews some fundamental mathematics results
Which of the following is evidence of market power? a. Output is fixed despite cost changes b. Optimal Output is less than industry output c. Output changes as cost changes
Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
what are the microeconomic encompasses
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