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Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
if the inverse demand curve is p=120-Qand the marginal cost is const ant at 10 ,
critical evaluation of marginal analysis
what do you understand by production posibility curve?
Draw an indifference curve for consumption and hours of work. (Hint: in class we discussed indifference curves for consumption and hours of leisure, this is different.)
Discriminatory Fee Structure This method discriminates between courses and the economic condition of the family to which the student belongs. The cost of providing the educati
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
THEORY OF PRODUCTION: Production activities related to goods and services require inputs. Typically, the set of inputs includes labour, capital equipments and raw materials. T
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
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