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the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
What is Deflation? Deflation in economics refers to reduce in the general price level, i.e. the nominal cost of goods and services as well as wages reduce. As, it is an opposi
what are fundamentals of welfare economics?
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
how can we bring in the marginal propensity to consume
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THEORY OF CONSUMER SURPLUS: We discuss the basic concept of consumer surplus and its derivation. A consumer normally pays less for a commodity than the maximum amount that she
illustrate and explain the changing demand for big mac using indifference curve and budget line
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