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Discuss about the evaluation step in analytical frameworks.
Evaluations:
The fifth step into studying an economic step is to estimate outcomes resulting through the undertaken institutional arrangement and to create value judgments of the chosen equilibrium conclusion and economic mechanism based onto exact criterion. The most significant criterion adopted into modern economics is the notion of efficiency or the “first excellent”. When an outcome is not effective, there is room for improvement. Other criterions comprise informational efficiency, equity, incentive-compatibility, fairness and operation costs for running an economic mechanism.
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
u=2x^2+3y^2 hence income=310 birr and price=3 birr calculate quntity of x and y the optimize&minmize utilityfor the given income
Marginal revenue: Marginal revenue is the change in total revenue with respect to a change in quantity sold. That is, it is the change in total revenue that results from the s
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Essentials of Development Administration Development administration, to be effective and efficient, needs to have the following ingredients: Administrative Innovation:
What have been some justifications given for the historical exclusion of household production from the national accounts? Some reasons have included: a. households are not p
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illustrate and explain the changing demand for big mac using indifference curve and budget line
(i). A firm's costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6. (ii). The following are est
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