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How can we identify that something is elastic or inelastic?
When demand of any commodity does not change with the change in price of that commodity that item is said by inelastic. When demand of any commodity alters with the change in price of that commodity that item is said by elastic.
Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry
Question: Explain the contribution of capital accumulation in the progress of an economy? Capital makes the technological progress of the economy possible. Different technol
0.767 g of phosphorus and 0.650 g of chlorine were allowed to react. After the reaction was complete, all of the chlorine had been consumed, but 0.650 g of phosphorus remained. How
Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w
If a large amount of skilled labor immigrated into the country, which allows the available resources to produce more of goods X and Y, which of the following will occur? A.the y-i
The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
what is price elasticity of demand ? write briefly with explaining it''s type.
traditional theory of cost
Mixed Economic System and how can this system solve the economic problem, with example?
Why a high level of labor force growth is correlated A high level of labor force growth is correlated--even though less powerfully--with a low level of output per worker. The a
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