Economic growth, Summarize the four supply factors in economic growth.

Summarize the four supply factors in economic growth.

Elasticity deman, use the concept of the income elasticity of demand to exp...

use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods

What is hyper inflation, What is hyper inflation? How it can be reduced?  ...

What is hyper inflation? How it can be reduced?   Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th

What do you mean by the utility function, What do you mean by the utility f...

What do you mean by the utility function? The Utility Function: Sometimes this is easier to work directly along with the preference relation and its connected sets. Althou

Choices , why is choice inevitable in the understanding of economics scienc...

why is choice inevitable in the understanding of economics science?

The lower the value MR of monopolist ,

Is it possible for a firm to be price taker and price maker, Is it possible...

Is it possible for a firm to be both Price taker and price maker?  A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar

Law of supply, what is the importance of law of supply

what is the importance of law of supply

Change in consumer and producer surplus from price controls, Change in con...

Change in consumer and  producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -

Microeconomics, scope of microeconomics

scope of microeconomics