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What are the advantages of leaving the allocation of a countrys resources to the price mechanism?
Ans) The main conditions needed are:1. Either a finite number of agents or products.2. No externalities - That is, the consumption of single person should not harm or advantage anyone else.3. No matter how much a person is consuming, they must be able to be made slightly happier by intense a bit more of something.
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
how to find least cost combination of factor inputs given the production
please can you explainn what "down 0.1 percentage point on the quarter means"?
This research will follow the methodology of econometrics; Chao, 2005; Castle & Shephard, 2009): 1. Specification of the model using a specific stochastic equation, together wit
How economic theory explain optimum pattern of consumption for an individual consumer
related documents, photos,paper for permission from court etc.
Gross Domestic Product, Deflator: A price index that adjusts the overall value of GDP according to average increase in the prices of all output. GDP deflator equals the ratio of no
what are the recommendations for effective economic planning?
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
what are the microeconomic encompasses
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