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Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
Suppose the total demand for wheat and the total supply of wheat per month in a market are as follows: a. What will be the market or equilibrium price? What is the equilibrium q
Consumer Behavior The description of how consumers allot their resources (income) to the purchase of various goods and services to get maximum in their well being. There a
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REAL BUSINESS CYCLES: The extent of this module is partly indicated in the title. It is about real business cycle (RBC) theory. In addition, it exposes you to New Classical Bu
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
In the long-run equilibrium, each firm in a perfectly competitive industry will choose the plant size associated with minimum long-run average cost. Is this TRUE or FALSE? And why?
GIVE EXAMPLES OF EACH OLIGOPOLY MODELS FROM REAL LIFE
list all the type of cost
write down the assumotions and importance of game theory
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