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How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?
What is corporate governance? Why is it important for board of directors to ensure good corporate governance within a company? Students need to define corporate governance concisel
If producers expect future prices to enhance, current supply will decline in favor of selling inventories at higher prices later. In other words, supply will reduce (a shift to th
what is golloping inflation
explain the concept economies/diseconomies of scale and minimum efficient scale
Explain how consumers might benefit from the existence of monopolies. While the standard issue of monopolies having higher prices and lower output that competitive markets migh
Commodities that are viewed as luxuries typically have price elastic demand, and commodities that are requirements have price inelastic demand. There is easily no substitute for a
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Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
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