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Stackleberg Model : is another attempt at understanding the strategic decision making of oligopolistic firms. It derives its name from Heinrich Freiherr von Stackelberg whose brain
discuss the implications of various market structures(competitive and non-competitive)for price determination
summary of general equilibrium
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
how to solve Min (x+y/2, 2y+x, 3x)
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
Aggregate Supply When referred to in the circumstance of GNP or GDP, aggregate supply refers to the labor and capital needs to proceeds the level of products and services need
Why narrowness of definition of a commodity may influence price elasticity of demand
So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity
Consider the following duopoly with differentiated goods where x 1 and x 2 denote the amounts of the goods 1 and 2 respectively, with prices p 1 and p 2 . The demand funct
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