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is it just assumed that a monopoly graph is showing economic profit instead of accounting profit
Using a graph of the compensated and uncompensated demand curves, show how the magnitudes of the CV, EV, and ?CS will be related to each other when there is a ceteris paribus incr
Market failures (even when they do not have international external effects) i) Self-fulfilling bank runs, government debt runs, currency crises. ii) Liquidation costs of li
Cropping Pattern Over Time: The dominance of food crops and among food crops that of rice and wheat only states the existing cropping patterns. It is important to study the tr
Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation c + wl = w; which can be rewritten as c = w - wl: The budget li
concept of narrowness in pure economics
Public Expenditure Trends: The expenditure pattern of the Government sector has been generally guided by the concern about the role of the State in the economy, both as invest
Differentiate between inflation and unemployment. Inflation is an increase in the general price level that results in a decline in the purchasing power of money. In economics,
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
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