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During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of prices and quantities.
(a) Computers
(b) Computer software
(c) Typewriters
Problem 1: (a) Explain the meaning of inflation. (b) "Inflation is always and everywhere a monetary phenomenon." Discuss this statement. (c) Briefly explain the link betw
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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
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what are the uncontrolled variables you think may affect the segment of your camera
Illustrate the content in the rational consumer? Content in the rational consumer: a. How to spend income onto goods and services? b. Why maximizing usefulness? c. Wh
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Draw a marginal utility cureve for a good that has a constant marginal utility
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