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Micro economics is the study of individual unit of an economy
How have economists traditionally defined "economic growth," and how is that different from "living standards growth"? Economists have traditionally explained economic growth
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
Consider a market with short run demand and Supply functions. Qd=4-p^2, Q''s=4p-1.Find the partial market equilibrium, calculate consumer and producer surplus at this equilibrium,
Explain in detail the concept of PPC with suitable eg.
illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
The demand for soft drinks has been estimated asQx 20PX 0.25PY0.45M 2 Determine the own, cross and income price elasticities of demand. Interpret your results.
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
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ed=1 means p
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