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What is Laffer curve
The Laffer curve is named after Professor Art Laffer who suggested that as taxes enhanced from fairly low levels, tax revenue received by the government would also enhance. Though, there would come a point as tax rates where people would not regard it as worth working so hard. This lack of incentives would lead to a fall in income and thus a fall in tax revenue.
Q. Perfect Competition in neoclassical economics? Perfect Competition: An abstract assumption, central to neoclassical economics, in that companies are so small that none can i
All other things equivalent, the higher the proportion of income spent for the commodity more price elastic will be the demand. Most home owners are recognizable with how this de
Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
alternative theories of trade
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
what are the microeconomic encompasses
Government Production: Some production in the economy is undertaken directly by governments (or several kinds of government agencies) in order to meet public requirements (as disti
baumol''s theory
i when should continue to produce in the short run
Illustrates the stages of the production of an economic conclusion? The production of an economic conclusion generally goes into three stages as follows: Stage 1: It is no
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