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1. Explain how the aggregate supply curve for the entire economy can be derived under;
i. Classical assumption
ii. Keynesian assumption
2. Explain how equilibrium can be achieved in both the good and money market?
3. Explain how the three different shapes of Lm curve?
4. Explain how a reduction in taxes can lead to crowding out effect in an economy?
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
discuss how economic theory of marginal utility explains the optimum pattern of consumption for an individual consumer
Monopoly: Monopoly is a market structure in which there is a single firm producing a commodity or providing a service that has no close substitutes. As the sole supplier to it
For the pizza seller whose marginal, average variable, and average total cost curves are shown in the following diagram, what is the profit-maximizing level of output and how much
Ask question #Minimum 100 wordswhat ism accepted#
Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
about visit to village panchayat fo data agriculture based project
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