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need to get assignment on income effect and substuation effect how does increase in price of both comodity will affect the or show the new effect
Aggregate Demand When referred to in the circumstance of GNP or GDP, aggregate demand dealings the sum of what is spent by various parties in the United States for product and
What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo
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
Characteristics of prisoners dilemma
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
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
Ask quesIn your own words describe how a market would adjust in situations of: a) Excess Demand b) Excess Supply c) Equilibrium As a follow up you might think about what effects
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
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