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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
discuss how economic theory explains the optimum pattern of consumption of an individual consumer
short run equilibrium of the industry
explain 6 factors that determine volume of production
Marvelous Marvin spends his money on muffins (m) and a composite good (c) (whose price you may assume is $1 throughout this problem). Marvin's utility is U = m + c and his income (
how to calculate it given a functuion
The Objective Probability - 100 explorations out of which 25 successes and 75 failures - Probability (Pr) of success = 1/4 and probability of failure = ¾ Given: -
Compare and Contrast Classical and Neo classical theory of interest
1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs. 2. There are two demand curves for a pri
#questions..
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
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