DEFNITION, Microeconomics

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WHAT ARE THE COMPONENT OF ECONOMICS

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Microeconomics, INFO: Suppose that a firm is currently employing 20 workers...

INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to

Indifference curve, what are the properties of indifference curve

what are the properties of indifference curve

Factors that calculate price elasticity of demand, Factors that calculate p...

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

Price determination explain briefly about it by then, about the price deter...

about the price determination with the held of diagramatic explanation numerical explanation related to the concept

Kaldor hicks, limitation of kaldor hicks in compensation test and welfare c...

limitation of kaldor hicks in compensation test and welfare criteria

Scarcity choice and opportunity cost, (a) Differentiate between a  command ...

(a) Differentiate between a  command economic system and a laissez-faire. (b) Assess to what extent it is advantageous for an economy when it moves from a controlled to a free-e

Explain the generalised least square procedure, (a) What is  meant by heter...

(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

Economic value, The monetary calculate of the welfare associated with the c...

The monetary calculate of the welfare associated with the change in the provision of some good. It is not to be confused with monetary value, unless the latter is explicitly desig

Explain about the specification of economics environments, Explain about th...

Explain about the specification of economics environments. Specification of Economic Environments: The primary step for studying an economic issue is to identify the econom

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