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What currency was used in the 1700s?
Ans) this is depends on the country. Most currencies, though, were based on gold and silver.
In America, in the 13 colonies, tobacco was mostly used as a type of currency.
an explanation of the meaning of price ceiling
What is consumer surplus? What is its significance and what causes it to change?
Comparison with Our Targets : A proper objective assessment of our performance can be carried out only when we juxtapose our current achievements with: (i) planned or targeted
Q. Can you explain about Counterfactual? The ‘base case' or counterfactual is a statement of what could have happened without policy intervention, or if the policy intervention
the diagram used to illustrate of abnormal and normal profits
Types of production function
In theory, we know that a monopolist basis its price directly off of the demand curve, but in practice a monopolist cannot ''see'' the demand curve. Explain how a monopolist might
what is market economy and how it solve the central problem
The Demand Curve - The demand curve exhibits how much of a good consumers are ready to buy as the price per unit changes keeping non-price factors constant. - This price-qua
Factors that calculate price elasticity of demand: The proportion of Income spent on the Commodity If the price of a good is relatively low such the expenditure on it is a
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