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When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin
Concepts of Income and Substitution Effects: Change in demand for a good due to one unit change in price of that good for given prices and money income is known as own price
Find the highest interest rate: There are 2 entrepreneurs, Sally and Paul. The return to their projects are given by: To finance the project, each entrepreneur needs
cartels model of collusive oligopoly
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How is the wrong conclusion result in necessary condition not in the sufficient condition? This is often heard that the market institution must not be used based onto the fact
graphing a isoquant
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
I need help on MCQs on international trade and imperfect competetion
A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $
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