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How elasticity is always referred to as a positive value even though it can be negative?
In economics, elasticity is measures of the incremental percentage change in single variable with respect to an incremental percentage alter in another variable. Elasticity is almost always referred to as a positive value, meaning that people use the absolute value in the case of a part of elasticity that is normally negative.
Hi, I am taking an economics course. I have a problem where I am given 2 types of units with the same production rate and the labor used to produce those units. I am supposed to c
Difficulties in Measuring Cost 1) Output data may represent an aggregate of different type of products. 2) Cost data may not include opportunity cost. 3) Allocating c
veblen effect
Costs of Education The resources employed to produce a good or service measured in monetary terms is known as the ‘cost of the product’. If the measurement is per unit of serv
The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. It originated from countries with highly sophisticated fin
Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
what are criteria and conditions for pareto optimacy
Energies of the diametric molecules of a gas, chemistry assignments The analysis basis for treating these different types of motion can be seen by describing the motion of a di
find equilibrium level of income
What are the important functions to maximize total surplus? The market equilibrium maximizes total surplus since the market performs four significant functions are as follows:
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