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On Valentine's Day, the price of roses increases by more than the price of greeting cards. Why? (Hint: Consider what makes roses and cards different and how that difference might
A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo
Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al
WHAT ARE THE COMPONENT OF ECONOMICS
How does a per unit tax affect consumer surplus.
where does stage 1 end?
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
definetion of pricing thery
What is Laffer curve The Laffer curve is named after Professor Art Laffer who suggested that as taxes enhanced from fairly low levels, tax revenue received by the government wo
Modem theories of trade
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