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Q. What is Gross Domestic Product Per Capita?
Gross Domestic Product, Per Capita: Level of GDP divided by the population of a region or country. Changes in real GDP per capita over time are often interpreted as a measure of changes in the average standard of living of a country though this is misleading (since it doesn't account for differences in the distribution of income across factors of production and individuals, and it doesnot consider the value of unpaid labour).
what is the differences between utility theory, indifference theory and revealed preference theory
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solution for calculate price elasticity of demand for demand function Q= 10 - 2p for decrease in price from Rs. 3 to Rs.2..
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explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
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1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6. i. P= 40 - 0.5Q ii. Q= -40 + 0.75P iii
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