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Explain about the deadweight loss and elasticities.
Deadweight Loss and Elasticities:
The common rule for economic policy is the other things equal; you need to select the policy which produces the smallest deadweight losses. But how we can be forecast the size of the deadweight loss related with a specified policy.
For a tax imposed while demand or supply, or both, is inelastic will origin a relatively small reduce in quantity transacted and a small deadweight loss.
Functions
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what is economic model and role of assumptions in it.
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Q. Explain General Equilibrium? General Equilibrium: Neoclassical economics presumes that production, employment, investment and income distribution are all determined by a con
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