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1. Consider an individual facing a wage rate w . There's a total of 100 hours available for work or leisure in a week. (a) Represent his budget constraint graphically (b)
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Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
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,
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What are the advantages of trade surplus
Gay Lussac''s law of gaseous volumes: While gases react with each other they always do so in volumes that bears a simple ratio to one and another or to the volumes of the products
Explain how Keynesian economics views the role of markets and government intervention in fighting business cycles. Keynesian economics believes markets frequently fail and gov
if a bank has $6000 in checkable deposits and the required reserve ratio is 0.2 then the bank can lend how much money?
different btn elesticity of demand and inelasticity of demand
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