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What are expansionary and contractionary effects? Expansionary effect refers to the effect of raising the equilibrium level of national income. For example, an increase in gov
what are the similarities and differences of marginal productivity and marginal utility
defin giffen goods?
different types of production funtion and curve given by different economist
How to solve general equilibrium in pure exchange economy with 2 consumer and 3 commodities
Economic instruments Financial rewards, incentives and penalties that operate automatically via market forces, to encourage beneficial behavior.
hoe does the knowledge of price elasticity of demand important to the government
how a firm will choose its optimal inputs, isocosts and isoquants explanation
a. Generally, there will be a difference between the CV and the EV. Why? b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
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