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Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
I need some help to answer a discussion topic question about Potential Pareto Improvement, based on an article
argument against in favour of traditonel theory profit maximisation
Inflation-Unemployment Trade-off under Rational Expectations : Robert Lucas (1972) pointed out another implication of the above hypothesis of adaptive expectations. Suppose in
sources of oligopory
explain the fundamental task of economic system usin tomatoes as an example
Variability - The extent to which the possible outcomes of uncertain event may vary * Variability: A Scenario - Assume that you are choosing between two part time sales
what is direct utility in micro economics?
Curvature of the Iso-quant: An iso-qunat is convex to the origin. This is so because as more and more units labour are employed, the producer would prefer to give up less and
why is normal rate of return on capital included in the total cost and what implication does it have
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