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Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
bains limit price
explain the concept economies/diseconomies of scale and minimum efficient scale
Question: (a) Write down the Classical Linear Regression Model (CLRM) and explain its assumptions in detail. (b) The following data relating to information collected on
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
what is chemical combination
Question : (a) Using a simple example, diffrence between inter - industry trade and intra - industry trade? (b) Illustrate the reasons for the existence of external economie
Paradox of Thrift: An individual household, governmentor business may attempt to save money by reducing their current expenditures. Though those attempts to save, once amalgamated
discuss how economic theory explains the optimum pattern of consumption of an individual consumer
so this question asks for the deadweight loss if an institution decided to provide this service free of charge. I was wondering if this will achieve the socially efficent level or
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