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1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
What are the properties of consumer demand? Properties of Consumer Demand: In this section check the comparative statics of consumer demand behaviour as: how the demand of cons
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
Determine the economic productivity level Up until 1500 as best we can tell there had been next to no growth in output per worker for the average human for millennia. Even in 1
state 3 major assumptions which a production posibility is based
What is the optimal consumption bundle and marginal utility per dollar? The optimal consumption bundle is the consumption bundle which maximizes a consumer's total utility sp
hey, I just have a question on how to apply things like ATC and AVC in a problem. im just not too sure about what happens to the quantity of a particular good when asked. this is p
what is basic economic problem
Efficiency of exchange
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