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Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
What is market clearing level and public good? Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity f
The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
what is fractional reserve and how does it affect money supply?
illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resourcesquestion #Minimum 100 words accepted#
what is indifference curve''s theory and application
research report of any firm
what do you understand by linear break-even point? in what way is it useful in managerial economics? what are the assumptions underlying the analysis?
solution for -calculate price elasticity of demand for demand function Q= 10 - 2p for decrease in price from Rs. 3 to Rs.2
Use a PPF to explain the difference between actual and potential growth. The PPF shows possible output, taking into consideration all factors of production - but de facto outpu
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