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what is the assumption of the model ?
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
EXCHANGE RATE SYSTEM: It is interesting to look at a case study of a country like India for several reasons: first it is a small country in terms of imports and exports as a p
Why firm charges different prices to different consumer? Every firm needs to maximize its profit. When goods are sold to different customers, each customer negotiate price of
the diagram used to illustrate of abnormal and normal profits
what happen when a new resources has been discovered for computer
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Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
How is the foreign exchange rate determined
Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting
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