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Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2 . Thanks a lot!
Question 1: (a) How do economists go about studying the economics of the public sector? Describe the four stages of analysis. (b) What are the main reasons explaining syst
Uses of Indifference Curve Analysis Indifference curve analysis is useful when studying welfare economics as follows: They are used to indicate the amount of income and
define scarcity and opportunity cost.Show how these concept are useful in managerial decision making
briefly explain oppurtunity cost in decision making?
Search Theory and Unemployment You must understand the search and matching theories of unemployment in the context of other theories of unemployment. With this objective in
Prices of other related goods i) Substitutes: If X and Y are substitutes, then if the price X increases, the quantity demanded of X falls. This will lead to inc
Convertible National Currencies Currencies are convertible when holders can freely exchange them for other currencies. There are several advantages in using a particular natio
Income elasticity of demand The income elasticity of demand measures the degree of responsiveness of the quantity demanded of a product to changes in income. Its co-efficient
examples
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