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what is the relevance of microeconomic analysis in contemporary Nigerian economy
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different btn elesticity of demand and inelasticity of demand
The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
a) Describe and derive the equilibrium contract offered to high risk individuals. b) Describe and derive the equilibrium contract offe
Assume that John has the following preference relation over two goods, bread and bear (x1, x2). He strictly prefers any bundle x over y whenever x haves more bear than y, whatever
How can we calculate the Inflation rate Inflation: The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level
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