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Name the two actors in the basic neoclassical (or traditional microeconomic) model of economics, and identify the assumptions the model makes of these two actors. Firms and hou
Students at XSU cannot register for english classes. Is this a situation of shortage or surplus of classes? Explain. Also would you expect market forces to do to tuition?
Consider a family saving function for the population of all families in the United States: sav = β 0 + β 1 inc + β 2 hhsize + β 3 educ + β 4 age + u where hhsize is househol
what is the theory of second best? prove the theorem with the help of a diagram.
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using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
discuss the significance of paration research
What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
in aid of a diagram explain the concept of diminishing returns in production
explain diagrammatically the bains model of limit pricing.
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