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Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
Consider the following flow (in thousands of people) between the various labour market states in a particular month:
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i when should continue to produce in the short run
Ask question using health care as an example explain how markets fail due to different types of externalities arising from jointness in production and consumption
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
When Stockwell Day was leader of the Canadian Alliance Party (which soon became the new Conservative Party) he wrote that "the national debt is mortgaging our children's future." A
A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
economic problems are faced by all types of economies but they are dealt with differently in different types of economies.discuss
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