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Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
What is the substitution effect?
when average product is decreasing, marginal product is?
Explain about the deadweight loss and elasticities. Deadweight Loss and Elasticities: The common rule for economic policy is the other things equal; you need to select the p
price falls and demand is elstic
Let Consider the following insurance market. There are two states of the world, B and G , and two types of consumers, H and L, who have probabilities p H =0.5 and p L
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concept of supply and the factors that affect the supply
what is disposable income and its importance.
what is demand forecasting and defines its techniques
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