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Determine the wage of labor, Consider a hypothetical nation, Solowland, whi...
Consider a hypothetical nation, Solowland, which were in the steady state. We consider a constant return to scale production function based on two production factors, labor and cap
Central problems of economy and its solutions, what to produce? how to prod...
what to produce? how to produce? for whom to produce
Trends of national income, TRENDS OF NATIONAL INCOME: Estimates relati...
TRENDS OF NATIONAL INCOME: Estimates relating to India's national income and per capita income are available to us for each of the years beginning 1950-51. These estimates are
Welfare analysis, Welfare Analysis 1-Of the following four institution...
Welfare Analysis 1-Of the following four institutions for allocating apartment to different people at different prices i. The competitive market ii. A discriminatin
Price change, 1. Seller has ample time to adjust to price change. 2. B...
1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
Explain why each of the following factors may influence the, Explain why ea...
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
Explain the first-order condition of sufficiency of consumer, Explain the f...
Explain the first-order condition of sufficiency of consumer. Sufficiency of Consumer’s First-Order Conditions This first-order condition is merely essential conditions for
Characteristics of economic infrastructure, CHARACTERISTICS OF ECONOMIC INF...
CHARACTERISTICS OF ECONOMIC INFRASTRUCTURE: Natural monopoly is the situation where the provision of a good or a service has economies of scale, which are realised most when a
What are the three major types of unemployment, What are the three major ty...
What are the three major types of unemployment? a) Frictional b) Structural and c) Cyclical unemployment. Cyclical unemployment is broadly spread by an economy durin
Facilitating restructurings, Facilitating Restructurings- rationale in era ...
Facilitating Restructurings- rationale in era of globalisation: There has been some progress in the last few years in efforts to improve the framework for sovereign restructur
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