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Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates
Problem 1: How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate. Problem 2: What are the
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
RATIONAL EXPECTATIONS AND ECONOMIC THEORY : Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic age
Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio
Sally recently finished her full-time training and received certification as a nurse’s aid at the end of August. She sent out applications to prospective employers during the last
INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
definition of abnormal isoquant and normal isoquant
uses of time series in Indian Economy?
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