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Explain the factors influencing the value of PED and yED. PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closene
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
Ask questMicroeconomics Reference No.:- #Minimum 100 words accepted#
a severe restriction occurs to the availability of consumer credit throughout the banking and finance system
Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
what is consumer''s choice involving risk.preference toward risk.
Simple Inventory Model Firstly, the product level initiates a demand, which generates a demand at the component level and then in turn at the raw material level. Think of an
what is Microeconomics?
You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your
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