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Suppose we divide Canada into three regions; the west, the centre and the each
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
Economists view depreciation as capital consumption for them, there are two distinct ways of charging for depreciation (1) the depreciation of equipment must equal its opportunity
Q. What do you meant by Deficit? Deficit: When a business, government or household spends more in a given period of time than they generate in income, they suffer a deficit. A
Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is officially set at $16.10 per hu
Explain the key assumptions and desired properties commonly used economics. Economists generally make all or some of the given key assumptions and a condition while they study
the fours laws of chemical combination
Consider a market with short run demand and Supply functions. Qd=4-p^2, Q''s=4p-1.Find the partial market equilibrium, calculate consumer and producer surplus at this equilibrium,
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
What is the difference between decreasing marginal returns and negative marginal returns?
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