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Elasticity of Demand This is a measure of how responsive the sales volume of goods is to changes in that product's price, equal to the marginal change in sales, divided by the
if sabela can afford 4 trousers and 4 pairs of shoes.she could also use her entire budget to buy 8 trousers and 2 pairs of shoes.if the price of a trouser is 500 birr,how much is s
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Ask question what is frugal economy
What is Hicksian demand function? Hicksian Demand Function: The solution of expenditure function that is the function of (p, u) is denoted by h(p, u) and termed as the Hicks
How to solve questions of endowments?
Marginal Product Theory a. What is the MC of output in the short-run? b. What is the MC of labor (employed)? c. What is the short-run profit-maximizing decision
what is free market?
State about the prices - Price level Prices are of great significance in macroeconomics as indeed they are in microeconomics. Though, in microeconomics we are more interested i
JOINT DEMAND AND COMPETITIVE
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