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a) An enhances in the quantity demanded of a good can happen because consumers expect the price of that good to enhance in the near future.
b) A price ceiling imposed above the competitive equilibrium will result in a shortage.
Deviation in graph
why is the concept of elasticity crucial to the study of economics?
Vulnerability in international relations: Dominance, dependence and vulnerability in international relations.A greater volume of Ghana’s exports comes from primary commodities
Why government cannot print new currency to pay the debts? When there is deficiency of internal resources then government borrow. Government can borrow either from central ban
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
excess reserve make a bank less vulnerable to runs.why
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
what is the homogeinity of demand function wrt prices and income
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
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