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Explain the roles of economics theory. Roles of Economic Theory An economic theory has three probable roles: a. This can be used to describe economic behavior and economi
Draw a marginal utility cureve for a good that has a constant marginal utility
What are the uses of elasticity’s to the public sector and private sector?
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
what is the Theory of second best? Prove the theorem with the help of digram
negative slope on ppf represents what?
explain the following disadvantages of amalgamation. Complex nature
in the keynesian model the price is assumed to be what? a.exogeneous and remaaining constant b. endogeneous and remaining constant which is correct?
explain the concept economies/diseconomies of scale and minimum efficient scale
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