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How is microeconomics differed from macroeconomics?
Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For example, how much this would cost for a university or college to give a new course? (Involving the cost of the instructor’s salary, the classroom services and the class materials, and many more). Having found about the cost, the school can after that decides whether to offer the course.
equation for a demand curve is p=2/q. what is the elasticity of demand if price falls from 5 to 4
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
Briefly discuss the components of macroeconomics system with suitable explanation
Characteristics of prisoners dilemma
Taxes: Compulsory government levies collected to pay for public spending. There are numerous types of taxes (corporate, income, wealth, sales, environmentaland payroll taxes); each
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
Conditionality: International financial institutions (such as World Bank andInternational Monetary Fund) usually attach strong conditions to emergency loans they make to developing
Pensions: Pension benefits are paid to individuals who have retired from active employment, in order to support themselves in last years of their lives. Pension programs can be spo
A Period of Transition and Improvement: These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an
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