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Elasticity is a term broadly used in economics to signify the “responsiveness of one variable to changes in to another.”
Types of Elasticity can be explained as follows:
There are four major types of elasticity which are stated below:
• Price Elasticity of the Demand.
• Price Elasticity of the Supply.
• Income Elasticity of the Demand.
• Cross-Price Elasticity of the Demand.
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
What are constant returns to scale? Constant returns to scale: A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a
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The Case: In Pakistan, sugarcane, wheat, rice and cotton accounted for 90% of the value added in crops and 6% of GDP in the last fiscal year but the average yield of these crops is
what are monetry accounts?
Should the bank not have anyone to lend the demand deposit to (like that will ever happen) would the size of the money multiplier decrease? If so, why?
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Show that a pulsed spherical wave has a complex wavefunction of the form U(r,t) = (1/r)a(t-r/c) where a(t) is an arbitrary function. An ultrashort optical pulse has a complex wavef
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