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a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
Use a PPF to explain the trade-offs that all economies face. All countries must construct some sort of system whereby output, allocation and distribution of goods is decided.
If a person literally had “nothing else to do,” (a) What would be the opportunity cost of doing this homework?
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What is an index number?compile a chart of the types of consumer price index numbers showing-the agency who prepares it,index formula,target group,groups of items covered and the w
A trend line can be fitted through a series graphically. Old values of sales for different areas are plotted on a graph and a free hand curve is drawn passing through as many point
1.what is price mechanism? 2.how does price mechanism benefit an echonomy. 3.what are the characteristics of a centrally planned economy?
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
what is the indirect utility/
Problem 1: i) How might unemployment arise? ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy. iii) ‘'Inflation always
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