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using demand and supply curves explain how shortage and surplus are created
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
what are the types of microeconomic analysis?
Qdx=-30p+0.10+4pr+4t
Perfectly Competitive Markets * Characteristics of Perfectly Competitive Markets 1. Price taking 2. Product homogeneity 3. Free entry and exit * Price Taking
Q. What is Gini Coefficient? Gini Coefficient: A statistical measure of inequality. A Gini score of 0 signifies perfect equality (in which each individual receives the same inc
clarify the opportunity cost theory
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
Question: (a) With the help of diagrams, explain how the price and quantity demanded or supplied of fuel will change under the different scenarios: (i) Consumers expect a fu
Suppose a family earns £1,500 per month and can either pay £0.50 per square foot in monthly rent for an apartment in the private rental market, or accept a 1,500 square foot house
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