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NEW CLASSICAL BUSINES CYCLE THOERY: Yang, Xioaokai, Economics: New Classical versus Neoclassical Frameworks, Oxford: Blackwell Publishers. The book goes on to rigorously dev
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
An individual derives utility from consuming goods X and Y according to the following estimated utility function U = 12X 2/3 Y ¼ X and Y are quantities (units) of
Privatisation in the narrow sense can take several forms: a) Total Denationalisation: This implies complete transfer of ownership of apublic enterprise to private hands. Some
theory of profit
how can we solve central problems of economy in different econmy?
explain diagrammatically the bains model of limit pricing.
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
the sources of market failure
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