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Define why prices is significant for economy
Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instance, is much more vital than price of paper clips. By using different weights we allow for changes in a number of prices to have a larger effect on price level than changes in other prices.
RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
the conclusion
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a
Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales
In the short run, the size of the plant is fixed whereas in the long run a firm can adjust its plant size. One of the choices in the long run will be the short run plant size. That
TC = Q3 – 8Q2 + 68Q + 4
looking for information to complete essay, info looking for What is elasticity and its calculations for the price of a lap top, that increases by 20% and there is a 40% drop in qua
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class
Why some country saving less and consumption more?
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