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Think about the demand for the three popular game consoles: XBox, PS3, and Wii. What is the effect on the demand for XBox games and the quantity of XBox games demanded if, other th
What are the determinants of income elasticity of demand? There are three determinants of income elasticity of demand. These are: Degree of necessity of a good: In a developed
Performance of Public Sector Enterprises: Data reveal that the performance of the much-maligned public enterprises has shown a distinct improvement during the last 9 years. Gr
Why is investment so important in an economy? Define investment as an enhance in capital stock and link this to broad macro issues; future output, enhance in living standards, ta
Explain what the phrase “price rationing” means. Price rationing is the method by which the market system assigns goods and services to consumers while quantity demanded exceeds
2) Proctor & Gamble (P&G)
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
Ask question using health care as an example explain how markets fail due to different types of externalities arising from jointness in production and consumption
TC = Q3 – 8Q2 + 68Q + 4, get the median and mode
how can we solve central problems of economy in different econmy?
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