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Explain the graph as their is an increase in income
It is important to understand the important characteristics of monopolistic competition. The knowledge of these features will enable the students to know how this form of market st
How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?
Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
Current Account Deficit (CAD): Boon or Bane The general belief is that high CADs are dangerous. In general, this is correct. But the converse that low CADs are good is not. A
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
Output 0 Fixed cost $100 Varaible Cost 40 what is the Total cost and Total revenue also the Profit/Loss
what is the basis of marginal utility
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
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