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Q. Describe Consumer Price Index?
Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purchase. Retail price information is gathered on each type of product and then weighted according to its significance in overall consumer spending, to construct CPI. Annual or monthly changes in CPI provide a good measure of the rate of consumer price inflation.
Suppose that the following equation characterizes the demand for primary education in a developing country X: Q = 100 – 2P Where Q is quantity demanded in years of schooling and
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above?
Physical Capital: A tangible tool, machine, building or other productive asset that is used to produce other goods or services. Pollution: Many economic activities involve disch
Assume the banking system contains: Total Reserves $ 80 billion Transactions Deposited $800 billion Cash held by public $1
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
what are the properties of cob-douglas production function
Perceived Value Pricing This refers to a pricing strategy that dictates that the price of a given item will be set based on the customer's perception of the value of that item
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
What the definition of microeconomic
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