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What are the basic questions to be answered by economic institution?
Four fundamental questions should be answered by any economic institution as:
a. What goods and services must be produced and in what quantity?
b. How must the product be produced?
c. For whom must this be produced and how must this be distributed?
d. Who makes the decisions?
Ask question #Minimu2. Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appra
Rational Expectations- Inflation Unemployment Trade-off : Now, consider what happens if we suppose that workers have rational expectations about the rate of inflation First, th
can you help me figure out how to create a graph with little or no information
what is Microeconomics?
Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o
#questioIn many metropolitan areas of the country, local governments often impose rent controls on apartments. The justification for doing so is that the current market rent is con
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commodi
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
discuss whether marginal utility is a realistic piece of economy analysis in a consumer demand
Rationale of Group Project Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations.
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