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Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dependence on capital changes over time.
price effect
Individual Demand Substitutes and Complements 1) The two goods are considered substitutes if an increase (decrease) in price of one lead to an increase (decrease) in quant
why sellers and producers keep pricess lower
factors influencing the conditions of demand for a given product
Reasons for International Trade?
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
is the industry of electric power on the large economies scale
Explainbainlimitpricetheory
Durability of the Commodity: With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, tele
Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
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