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John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
How does the production possibilietes curve relate to present day economics?
At what point is the Fed likely to raise interest rates for the first time? How large are the first couple of hikes likely to be? (hints: conditional on unemployment or gdp growth
what are the limitations of economies of scale?
differentiate between normative and positive statements in economics with the help of a statement
what are the criticisms of modern theory of rent?
maximum profits will occur at the output level
Criticisms of World trade organisation: There are critics too of the WTO. It is believed that the WTO will emerge out destructive of biodiversity and people's livelihoods by
how do minimum units cost change with changes in fixed cost
How the above would apply to non-renewable resources such as oil. This has general applicability to any competitive market. The issue here is that potential supply has a finite
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