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CES production function and its derivation
Explain crowding out and why it may be considered important for policy makers. Crowding out refers to how enhanced government borrowing (real borrowing!) might serve to raise i
Describe what the price elasticity of demand is and why it is of interest in examining markets. Might it be beneficial in the airline industry? Why?
Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector
Q. What do you meant by Relative Poverty? Relative Poverty: A measure of poverty based on an individual or family's relative income compared to overall average level of income
Economic profit and Economic loss: Economic profit is the excess if total revenue over total cost when the latter includes both explicit and implicit costs. It is the type o
is a hotdog vendor''s stand a good example of diseconomics of sale?
b) Why is monopoly considered to be generally against public interests, and what policy instruments can be used to regulate monopolies?
suppose a firm''s total revenue depends on the amount produced (q) according to the function R= 70q-q2 total cost dependson q: C=q2+30q-q2
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