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the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
what does it mean by a normal good ?
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
1) The Economy cannot be considered fully employed unless the measured unemployment rate is below 1%. Agree or disagree and explain your answer in a paragraph. 2) A) Why would y
what is market economy and how it solve the central problem
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
compare and contrast adam smith''s theory of absolute advantage theory and david ricardo''s comparative advantage theory of international trade.
An individual derives utility from consuming goods X and Y according to the following estimated utility function U = 12X 2/3 Y ¼ X and Y are quantities (units) of
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