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f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
merits and demerits of monopsony
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
Elasticity of Demand Price elasticity of demand measures percentage change in quantity demanded which results from a 1 % change in price. Price Elasticity
The demand for soft drinks has been estimated asQx 20PX 0.25PY0.45M 2 Determine the own, cross and income price elasticities of demand. Interpret your results.
#questASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100
Q. Explain Function of Central Bank? Central Bank: A public financial institution, generally established at the national level and controlled by a national government that sets
differance between capitalism and socialism
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