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Differentiate the definition of economics as given by Prof. Marshall and Prof.Robbins.
Illustrate the concept of production possibility curve .How PPC is helpful to solve economic problems.
How are science,engineering and technology related with economics?
In this section, we ask you to write down a simple, formal, mathematical model. A small number of points will be awarded for an intuitive discussion of the problem, but most of the
Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma
What is affected variable and cause variable? In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe
What is the difference between price value and price level? Price value is the value of commodity bought by the consumer at a certain price from the market, while, price level
#question.hif indirect utility function is givenhow to derive the demand function .
What are the income and cross elasticities of demand? Why might they be useful? Explain.
CleanAuto Inc. has four workers: Julie, Ian, Devon, and Thomas. CleanAuto Inc. provides two services: interior vacuuming and exterior wash. Julie can perform each of these tasks in
The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
an explanation of the meaning of price ceiling
explain how macro and micro issues may be represented using production possibility curve
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