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Change in demand: change in quantity demanded occurs when the consumption of a commodity increases or decreases as a result a change in the price of the commodity, when all ot
Since World War II, North Korea has had a centrally planned economy in which the government makes the big decisions on how resources will be allocated. Why would you expect North K
. Keep slope of supply constant and apply different slopes of demand curve and then show what happens if control price impose. Similarly, keep demand curve constant and apply diffe
Which of the following industries do you think are likely to exhibit large economies of scale? Explain why in each case. a. House building b. Electricity generation c. Market ga
What are the different pricing practices?
#q7. Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) sched
if the inverse demand curve is p=120-Qand the marginal cost is const ant at 10 ,
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
There are two individuals in town, one is high risk and the other is low risk.1 The probabilities of having an accident for the low risk individual and high risk individual are p
Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
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