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* To measure risk we should know:
1) All the outcomes which are possible.
2) The probability that each outcome will occur.
* Interpreting Probability
- The probability of the given outcome to occur * Interpreting Probability
- The probability which the given outcome will occur
- Objective Interpretation
- Different information or abilities to process the same information can influence subjective probability
electronic configuration of s block elements
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
what is tariff and qouta
Problem 1: a. Use the circular flow model to explain the concepts of injections and withdrawals. b. Explain the concept of budget multiplier. c. Using the concept of mult
consumers oriented application
Q. Describe about Capitalism? Capitalism: An economic system in that privately-owned businesses and companies undertake most economic activity (with the goal of generating priv
types of market competitions
Formal and Informal systems - MRP System Most production systems are full of 'pushes' and 'pulls'. The formal system issues orders, ie 'pushes'. The informal system tries to
Marvelous Marvin spends his money on muffins (m) and a composite good (c) (whose price you may assume is $1 throughout this problem). Marvin's utility is U = m + c and his income (
Define the Production Possibilities Curve and explain the basic economics concepts using the PPC. Explain the factors tht shift the PPC outwards
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