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Question 1: (a) Using examples, explain the difference between time-series, cross-sectional, and panel data. (b) Formulate a simple linear equation, and carefully explain
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
How does an increase in the size of a future payment affect the present value of a future payment
The demand curve for gasoline is P = 200 - 10Q. a. Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price change
what is Law of Demand?
National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed
formula of range
The monetary calculate of the welfare associated with the change in the provision of some good. It is not to be confused with monetary value, unless the latter is explicitly desig
aid of production possibilty curve
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