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The price at which output is sold in a perfectly competitive market is determined by
explaination of quasi rent theory
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
Market equilibrium happens where supply equals demand (supply curve intersects demand curve). An equilibrium implies that there is no force that will cause further changes in pri
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
Explain about the deadweight loss and elasticitie s. Deadweight Loss and Elasticities The general rule for economic policy is the other things equivalent; you need to choose
Assess whether market economies have been more successful than planned economies in providing welfare for citizens. The student is expected to outline some of the basic issues
Can this be done now?
what are the microeconomic encompasses
Average Product (AP) of a Factor: The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions,
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