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What two important functions are performed by the price system?(1) The price system is an automatic method for distributing goods and services.
(2) The price system defines the allocation of resources between producers and the final mix of outputs.
derive PCC for complementary goods
all the problems involved in measurement of profit
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
RATIONAL EXPECTATIONS AND ECONOMIC THEORY : We assumed above that the role of economic theory is not to provide quantitative predictions about the future. Suppose we assume ins
what do you mean by social welfare function
Pre-Funded Pension: A pension plan in that funds are invested and accumulated throughout an individual's working life in order to pay for subsequent disbursement of pension benefit
It is necessary for the proper understanding of the price theory to know the various concepts of cost that are often employed. When an entrepreneur undertakes production of a commo
chemistry assignments , obtain an expression for the allowed rotational energies of N 2 molecules. The equilibrium bond length of the N 2 molecules is 109.8 pm .
Problem 1: (a) Explain the common set of problems that developing countries usually face. (b) In your opinion, which of the problems described in part (a), are more signifi
Why elasticity is important for economic analysis? Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to
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