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if nominal GDP in 2002 exceeds nominal GDP in 2001, did real output rise?
Suppose the total demand for wheat and the total supply of wheat per month in a market are as follows: a. What will be the market or equilibrium price? What is the equilibrium q
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
bain''s model of limit pricing with diagram
POLICIES FOR SOCIAL INFRASTRUCTURE DEVELOPMENT: The origin of official policies for social infrastructure development is the National Policy of Education, 1986 for the develo
The objective of the Government of Mauritius, as announced in the Budget Speech 2007/2008, is to target 2 million tourists by 2015. (a) Critically assess whether the target of
The average price level has increased at a relatively rapid rate since 2008 even though the deep recession that UK experienced in 2008/09. The growth in the price level has been dr
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
Describe one case that fits the story of Prisoner Dilemma in not more than 10 sentences. It should fit the following features and it should not be any of the examples we already ta
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