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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.
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
International Monetary Fund: International Monetary Fund (IMF) is one of the two institutions that were established as a result of the Brettonwoods Conference in 1944, the oth
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
What is the difference between change in quantity demanded and change in demand
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
Unions in a Competitive Market: Again, there a group of economists who will rely on the use of the competitive model to demonstrate the evils of unionization. The most regular anal
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
Policies of Savings and Investment Policies to make sure that savers get reasonable rates of return on their savings have the potential to boost savings rate. Comparing systems
What is the importance of microeconomics in study of managerial economics? Normal 0 false false false EN-IN X-NONE X-NONE
1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l
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