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The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
(1) The demand curve for oranges is given by the equation P = 5 – Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars p
Suppose a government uses an expansionary fiscal policy to get out of a recession. Use the IS/LM model and the IS-PC-MR model to explain what monetary policy to pursue.
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
consumers oriented application
List and describe the determinants of the price elasticity of demand and of supply.
model of sylos labini
trend and structure of national income in nigeria
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example of cournot model
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