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The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
a. Determine Australia’s market equilibrium for TV sets. i. (1) What are the equilibrium price and quantity?
Movements of the demand curve itself, either to the left or right are known as changes in demand. A change in demand is caused by a change in one or more of the nonprice determina
COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq
What is methodological economics? how its significance, Describe use of methodological economics...
The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, h
Explain how Keynesian economics views the role of markets and government intervention in fighting business cycles. Keynesian economics believes markets frequently fail and gov
what is comparative advantage
Ask factor affects elasticity of demandquestion #Minimum 100 words accepted#
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
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