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An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
Consider a Bertrand duopoly. The market demand is q=190-p. Consumers only buy from the firm whose price is lower. If two firms charge the similar price, they share the market equal
Consider the following model: Y*i= β 0 X t β 1e U t a) Using the stock adjustment model, estimate the short-run and long-run elasticities b) Comment on the following pr
Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (
Nathan is a successful public relations (PR) consultant, thanks to an outgoing personality and sharp intelligence. At 35, he is near the height of his earnings potential, at around
suppose that you have 150 observations on production and investment and you have estimated the following ADL(3,2)model;
What are the social economic factors and non economic factors in the development process? Development is a process including change into a number of social economic and non eco
what is nature of elasticity?
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