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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.
compare the concept of MRTS with the MRS and discuss the similarities and difference between them?
a project report on marshalls marginal utility analysis
how does it work ? Say it to me !
in the context of managerial economics how do you explain a rational producer.illustrate giving example.
what is the effect on the market for dvd players if the price of dvd rises
Explain the Demand Pull Inflation Demand Pull Inflation: Occurs when aggregate demand exceeds aggregate supply. If there is an excess level of demand in the economy, this w
What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
difference between the cardinal analysis theory and ordinal theory
Nature of Expectations in Keynes' Theory : The above discussion on the nature of expectations in Keynes' theory may be summarised as follows: 1) In forming long-term expec
what is modern theory
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