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Why concept of Elasticity is important in economics?
Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole economy. . It can help us in lots of ways. For instance, for a firm the method of elasticity is important because it gives information that either the change in price is profitable or not. It also gives information about the good which is more profitable to make i.e. more inelastic the demand for the product, more profitable to produce that good. For a government, it is useful in the sense that it gives information about the commodity which is to be taxed and which is not to be taxed. It also gives significant implication for the balance of payment problem.
Isomers are two or more forms of compounds which having the same compositions. Types of isomers (a) Stereo isomers (b) Structural isomers
marries model
What is the difference between MRTS & MRS?
Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
what is economic model and role of assumptions in it.
assignment
I have to make a research paper project on Investigating the buying behavior of individuals in the white goods sector and seeing if there exists any negative relationship between d
Use standard indifference curve analysis to demonstrate whether the following statement is true or false. If the objective of government welfare programs is to provide lower inc
marginal conditions of pareto efficeincy
I need some help to answer a discussion topic question about Potential Pareto Improvement, based on an article
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