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what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?
Provide an economic explanation of what you have shown in your diagrams above. Discuss what happens to Iceland's (1) level of economic output, (2) employment, (3) real wage rate,
why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
1. Explain- a. Tragedy of commons b. Free rider problem c. Diminishing marginal utility d. Diseconomies of scale e. Tax incidence f. Elasticity g. Gains from
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Manners of reaching to someone's place with a present of anything like flowers, chocolates, etc. In U.S., it's not feel good to give flowers to women by men. If a man giving some g
What are the possible advantages of free trade? Firms a) Specialisation and enhanced use of comparative advantage b) Possibility of advantages of scale c) Spread
Input-Output Models Input-output models are used in economics of education in studies of cost-quality and education-labour-earnings relationships. Different levels and forms
Phillips Curve and Inflation-Unemployment in policy making : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in ad
Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone
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