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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.
what is free market?
Price/Earnings (P/E) Ratio This is a measure of an organization investment potential. Literally, a P/E ratio is how much a share is worth per dollar of earnings. The price-earn
Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in
elasticity of demand
What are the steps of the basic analytical framework in Modern Economics? Framework is very significant to master this fundamental analytical framework, particularly, these fiv
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages pai
I wont final Exam
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What is the optimal consumption bundle and marginal utility per dollar? The optimal consumption bundle is the consumption bundle which maximizes a consumer's total utility sp
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