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x-3y+6z=1 2x-5y+10z=0 3x-8y+17z=1
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
illustration for demand of big macs using indifference curve and budget line
Using the Wage Rate and Output per Hour as indicated on the table below, calculate the output per dollar wage and unit labor cost. Then decide on the optimal wage rate for this c
Exchange Rate Policy: LERMS, a dual exchange rate system, was introduced in the Budget for 1992-93. Under this system, 40 per cent of foreign exchange earnings were to be sur
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
The Case: In Pakistan, sugarcane, wheat, rice and cotton accounted for 90% of the value added in crops and 6% of GDP in the last fiscal year but the average yield of these crops is
(a) Suppose Scientists discover that eating soybeans prevents cancer and heart disease.
Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0
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