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What two important functions are performed by the price system?(1) The price system is an automatic method for distributing goods and services.
(2) The price system defines the allocation of resources between producers and the final mix of outputs.
optimal contracts under symmetric information
Formulate the consumption function for Mauritius using appropriate theories and suggest values for the coefficients of the independent variables based on theories. Given it’s a tim
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Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
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What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
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