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Q. What is Tradeable product?
Tradeable:A product (a service or good) is tradeable if its purchaser can purchase it far away from the place where it is produced. Most goods (other than perishable or extremely perishable products) are tradeable, and a number of services (like tourism and specialized business, financial and educational services) are also tradeable.
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
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PRICE ADJUSTMENTS UNDER FIXED EXCHANGE RATE: In a flexible exchange rate regime trade deficits (surpluses) are automatically corrected by a depreciation (appreciation) of a co
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Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence
What are the different pricing practices?
The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
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discuss whether marginal utility is a realistic piece of economy analysis in a consumer demand
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