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State about the prices - Price level Prices are of great significance in macroeconomics as indeed they are in microeconomics. Though, in microeconomics we are more interested i
describe returns to scale and give examples of each.
criticism of cournot model
using the aggregate demand and supply model (x axis is national output and y axis is price level) if an economy is in a state of disequilibrium where supply is excess of demand u
what is the type of the firms
discuss how a knowledge of price elasticity and income elasticity be of practical use to a firm
Dividend The distribution of an organizations earnings to its owners-the stockholders. Cash dividends are most ordinary, although partition can be issued in other forms, such
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
Change in consumer and producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -
What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
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