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consumer surplus and elasticity of demand assumption of consumer surplus criticisms of consumer surplus consumer surplus in terms of indifference curves importance of the concept o
If, for a specific project alternative, the discount rate equals the Internal Rate of Return, then the (discounted) Benefit Cost Ratio will equal unity (i.e., BCR=1.0). Define I
Nations trade what they produce in excess of their own consumption to:
What is the difference between decreasing marginal returns and negative marginal returns?
Q. Perfect Competition in neoclassical economics? Perfect Competition: An abstract assumption, central to neoclassical economics, in that companies are so small that none can i
Suppose the demand curve for a consumer for coffee is: Q = 6 - 2P, where Q represents the number of cups per day and P is the price of coffee per cup. 1. Suppose the con
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a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
two countries workland and playland have similar population and identical production possibilities curves but diffrefences . the procuction possibilities combination are as follows
problems in traditional economic
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