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Consider an infinitely repeated prisoner's dilemma game by two players. The resultant payoffs at each stage by the actions of two players are given below in the table (payoffs are
what is outputgap?
Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef
Implications for the Role of Economic Theory : Like the schedule for the marginal efficiency of capital, expectations about the future market rate of interest underlie the li
how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
Price Elasticity of Demand is explained below: Price elasticity of demand/require is the percentage change in the quantity demanded with respect to the percentage change in the
what are the properties of marshallian demand function
indifference curve and budget line
when total production fall what,s the status of average product and marginal product
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