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Demand Function
The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product or service. These other factors include the cost associated with making the product, the technology employed in making the goods, the number of vendors operating in a market, the price at which competing vendors are providing same products, and the supply of the product available to clients.
Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
Example: The Value of Clean Air Air is free in sense that we do not pay to breathe it. Question: Are benefits of cleaning up air worth the costs? People pay extra to buy
What is Cost Push Inflation Cost Push Inflation : When a cost of production (e.g. wages) enhances and firms put up prices to maintain profits. Cost increases may occur beca
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
alternative theories of trade
How might an accurate value for the multiplier aid a government in setting fiscal policy? Any given multiplier will enhance national income at a given rate times enhance in gov
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
Questions 1. Mrs Holt, 85 years old, has been admitted to acute care following a fall resulting in a fractured femur. She is a widow and lives alone with her three cats for compa
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
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