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What is a Market? Markets A geographically stated area where buyers and sellers interact or communicate to decide the price of a product or a series of products. Marke
reason for kinked demand curve
P=140-4Q mc1=20+30q for plant 1 mc2=80+10q for plant 2 how many units should be produced by plant 1 and plant 2 to maximise profit for this monopoly?
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In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
(a) Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b) The competitive equilibrium is the only allocation where the gain
GENERAL PRINCIPLE OF EXTRACTION OF METALS
Austrian economics is a brand of neo-classical economics that was established in Vienna during the late 19th century & first half of the 20th century. Austrian economics was strong
price elasticity of demand any 2 commodities
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