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How have economists traditionally defined "economic growth," and how is that different from "living standards growth"? Economists have traditionally explained economic growth
how to solve Min (x+y/2, 2y+x, 3x)
Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
#question.explain three neccessary condition to achieve pareto efficiency.
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what is the nature of microeconomics?
Expectations played a major role in Keynes' theory of the determination of aggregat output and employment in market economies in the short run. Expectations about future yields on
Problem 1: i) It has often been argued that a monopoly has both costs and benefits. Discuss. ii) Explain, using diagram the short and long equilibrium positions of a monopo
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