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A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis were scarce and hard to serach; but when the city enhanced the allowable fares 25 percent, vacant taxis suddenly became plentiful. The result is BEST explained by the economic principle of.
what is non- collusioligopoly and how its price and output is determined
The Schrodinger wave equation generalizes the fitting-in-of-waves procedure. The waves that "fit" into the region to which the particle is contained can be recognized "by inspect
THEORY OF COSUMER BEHAVIOUR: BASIC THEMES: We elaborated two classical theories (viz. Cardinal Approach and Ordinal Approach). In ordinal approach discussing the indifference
how can we bring in the marginal propensity to consume
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what are the properties of cost function
Corporatism: A system for managing income distribution andwage determination, in that wage levels are determined centrally (across industries or even whole countries) on the founda
is country beter off with ban on imports?
Why do some people believe that a mixed economic system solves basic economic problems? Ans) It is due to the private sector and public sector both have a say in answering the
argument against in favour of traditonel theory profit maximisation
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