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Individual Demand Substitutes and Complements 1) The two goods are considered substitutes if an increase (decrease) in price of one lead to an increase (decrease) in quant
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
what is micro economics
9. The average supernormal profit for the firm is
What is equilibrium point
different types of production funtion and curve given by different economist
What is development economics? Traditional economics studies the allowance of scarce resources among alternative uses. Development economics seems at the economic, politica
definetion of pricing thery
need to get assignment on income effect and substuation effect how does increase in price of both comodity will affect the or show the new effect
If coolest icecream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should coolest icecream do to maximize profit
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