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Explain why subsidies to domestic firms act as a trade barrier. A trade barrier is broadly explained as any market intervention whereby the ratio of price of exports to price o
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
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Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
What is the difference between MRTS & MRS?
how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
what are the uses of cross elasticity quantity in demand/
#limitations of time series analysis
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
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