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#• The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
different types of production funtion and curve given by different economist
Over the course of modern American economic history there have been market failures, various social problems, and other complexities that have resulted in certain resource markets
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
a description of engineering production function
Sources of Divergence The principal cause of extraordinary variation in output per worker between countries today are differences in their corresponding steady-state capital-ou
a more simple explanation of the group equilibrium in the short and long run
Attitude towards Risk: Let's assume the following: The utility function • has the single argument "wealth" measured in monetary units, • is strictly increasing, and
What is the problem of central economic
why is the point outside the production possibility curve(PPC)called unttianable
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