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What is the mathematical definition of price elasticity of demand
The price elasticity of demand is the percentage alters in quantity demanded divided by the percentage change in price. The price elasticity of supply is the percentage alter in quantity supplied splited by the percentage change in price.
how a capitalist system solves the three fundamental economic problems
Monopsony: Demonstrate (with a graph) how a minimum wage can increase both the wage and employment in a monopsony market even when the government sets th
what are criteria and conditions for pareto optimacy
Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de
The efficiency loss of a tax is the tax revenue collected by government minus the value of the public goods financed through the tax. Why is this false?
Ask questMicroeconomics Reference No.:- #Minimum 100 words accepted#
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes.
in the case of a decline in velel of private investment spending, why the effect on equilibrium output exceeds the magnitude of the initial shock? also, what are the effects of th
argument against in favour of traditonel theory profit maximisation
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