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What are the basic questions to be answered by economic institution?
Four fundamental questions should be answered by any economic institution as:
a. What goods and services must be produced and in what quantity?
b. How must the product be produced?
c. For whom must this be produced and how must this be distributed?
d. Who makes the decisions?
ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
what is bains theory ? describe with the diagram
Amartya Sen''s concept of poverty and welfare.
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
explain and illustrate the changing demand for big mac using indefference curve and budget line
1. Implicit and explicit revenues minus implicit and explicit costs equals: A. accounting profit. B. economic profit. C. zero profit. D. implicit profit. 2. A business owner mak
"A firm in monopolistic competition maximizes its profit by producing where its price is equal to its marginal cost." Is this statement correct or incorrect? Explain.
Earth is completely surrounded by thick envelope of gases called atmosphere. Atmosphere is sub divided into different layers depending upon the distance from the sea level. The
Hello there! I am currently doing an MBA course about the financial crisis which is quite challenging. Today we were given a question about the topic: Long term capital management
assumption of mariss model
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