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Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per barrel is $30 and the short -run equilibrium
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
Determine the population growth rates Birth control meant that those who didn't wish to have more children can exercise their choice. Parents began to find more satisfaction o
MUa/MUb how it happens? and why this occur?
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
The price at which output is sold in a perfectly competitive market is determined by
What is consumer surplus? What is its significance and what causes it to change?
What does economic theory contribute to managerial economics? Explain
Economies of Scale
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