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Consumer Surplus
-Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid.
The stepladder demand curve is converted into a straight line demand curve by making the units of good smaller. Combining consumer surplus with aggregate profits which producers obtain we can evaluate:
1) Benefits and Costs of different market structures
2) Public policies which changes the behavior of consumers and firms
Problem 1: i) ‘There is a trade-off between inflation and unemployment.' Do you agree with this statement? Justify your example using appropriate diagrams. ii) Mauritius is
Economic growth and Economic development: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is
observations and result
How solve central problem of economy in mixed economic system?
introduction of this model
Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
how do minimum units cost change with changes in fixed cost
Mixed Economic System and how can this system solve the economic problem, with example?
#questThe demand for and supply of labour in a certain industry are given by the equations Nd = 400 - 2w Ns = 240 + 2w Where Nd ( is the number of workers employers want to hire
The very name of this market type suggests that it is a combination of the monopoly and competitive firms. The characteristics of such a market are: 1. There exists large n
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