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The benefits of increased openness in trade.
Narrowly defined, trade openness is lowering trade barriers - facilitating increased imports - whereas focusing on international export markets. Advantages include choice/consumption etc for consumers, whereas firms have access to a broader (international) market. Society gains from economic growth, improved resource allocation and the spread of knowledge/technology.
what are the properties of marshallian demand function
Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
2. a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what
factor afecting the demand for durable product
what is aridge line and significance in economics.
How might a firm in an oligopolistic market attempt to increase market share? Explanation of oligopoly; concentration ratio, producer sovereignty Explanation that oligopolie
why is the concept of elasticity crucial to the study of economics?
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I have the answers to these two questions, but I need to know HOW to get these answers. Thanks. Question 1 Suppose there are two goods beverage and pizza and two inputs land, T
veblen effect
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