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Q. Can you explain about Counterfactual?
The ‘base case' or counterfactual is a statement of what could have happened without policy intervention, or if the policy intervention had taken a different but specified form. Any evaluation of a policy's effects could be made relative to what would otherwise have happened. Generally it is not enough to describe the starting position or ‘baseline' since this is likely to change over time.
Diffrence between price and Income elasticity of demand: Own price elasticity of demand is the degree of responsiveness of the quantity demanded of a commodity to a change in
explain the managerial decision areas
National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
State trading is often associated with canalisation. Canalisation means estaolishment of state monomply in foreign trade. In other words, an item that is canalised can be imported
Yao''s weekly demand for basketballs is given by Qd = 3-P^2 where P is the price of basketballs. At the current price, Yao''s demand for basketballs is unit elastic. What is the cu
how the increase in price will affect consumer''s ability to maximise satisfaction?
discuss whether marginal utility is a realistic piece of economic analysis in explaining consumer demand
Second degree price discrimination (two part-tariff) An electric utility in Ontario has the following cost structure: TC = 500 + 20Q Suppose that the market (inverse o
Economic appraisal - Appraisal , which seeks to quantify, and where possible calculate the welfare impacts from, the costs and benefits of a project or policy.
true or false ,It is not possible for the compensated own price elasticity to equal the uncompensated own price elasticity.uestion #Minimum 100 words accepted#
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