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Question 1:
Compare and contrast between perfect competition and monopoly. Which of the two types of market structures is efficient?
Question 2:
Prepare a short notes on any of the following:
(a) Credit creation (b) The concept of returns to scale (c) Monetary and fiscal policy (d) The income method of calculating national income (e) Substitution and income effect of a price fall of a normal good
Below are the two estimated cost functions. describe what type of data was most likely used to estimate each one and why. Explain which is a short- run function, determine the leve
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
herberler theory of opportunity cost
Analyze the sustainable approach to waste reduction developed by the company you selected. Include the following: Its products Previous methods of production The way it implemented
clarify the opportunity cost theory
the basic circular flow model suggests that...
causes for emergency of monopoly
what is economic model and role of assumptions in it.
How does the GPI adjust for increasing U.S. income inequality? Starting with the category of Personal Consumption Expenditures, the GPI adjusts for enhancing income inequality
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