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An end-of-aisle price promotion changes the price elasticity of a good from -2 to -3. If the normal price is $10, what should the promotional price be?
explain approaches of national income?
Can you think of examples where the government does not intervene enough when it comes to consumer safety and product information? Examples where too much intervention is the case
1) The modern global economic system In finance we learn that while the future is always uncertain there are ways we gain insight and make the best possible investment decisi
Q. Explain the classical growth theory? Production function won't provide us with a theory or explanation of growth. It's only a convenient tool that helps us breaking down gro
critically explain solow model of economic growth
Axiom of completeness: Consumer's choice is complete. Implication: Since consumer is rational, she must have a unique preference relation. That means the consumer choice is ei
How is the global social progress being measured today? Name some indicators of development progress that you believe reasonably reflect actual progress. What roles do corporate ci
ASuppose an economy has overbuilt and suffers from excess capacity A recession ensues due to firms cutting back on expenditures. Is deficient demand more easily remedied by monetar
Q. What do you mean by multiplier effect? Loans and deposits in banks give rise to a significant multiplier effect. We use a simple instance to explain this effect. Consider th
Given the above trade between the two countries, explain the trade effects on product prices, and factor incomes. Why do these effects occur?
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