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The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among pric
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
Explain the role of managerial ecnomist in kissan &dipsy fro ub group
Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
1. Using personal (work) experience or examples found from companies you research or from text book scenarios: a. Give an example of at least two "conflicting measurements" bei
what is equilibrium
Assume that John has the following preference relation over two goods, bread and bear (x1, x2). He strictly prefers any bundle x over y whenever x haves more bear than y, whatever
1. Go to the website for MarginalRevolution. Find">http://www.marginalrevolution.com Find two posts that related to microeconomic topics that we are covering and write about on
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
Q. Food purchases are relatively price inelastic since food is a necessity. If food is so required for life, how will we explain the heavy advertising of food items at the
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