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about opean market economy
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
. Suppose fixed costs increase by $20. How will this affect TFC, TVC, TC, ATC, AVC and MC? Which numbers change and which stay the same?
what are the merits and demerits of deductive inductive methods in economic analysis?
Oligopoly and its properties
Suppose that there is a credit market imperfection because of limited commitment. As in the setup with collateralized wealth, each consumer has a component of wealth which has valu
What are the types of demand
how a firm will choose its optimal inputs, isocosts and isoquants explanation
short run equilibrium of the industry
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
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