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Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
I don''t understand PPC at all
equation for a demand curve is p=2/q. what is the elasticity of demand if price falls from 5 to 4
electron configurations
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. What would answer be
Why government cannot print new currency to pay the debts? When there is deficiency of internal resources then government borrow. Government can borrow either from central ban
IMPLEMENTATION OF ECONOMIC POLICIES: Innumerable studies are available to document these failures of policy and planning. However, there are vast differences of opinion conce
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
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