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explain nature of microeconomic
using the basic Keynesian model answewr the following parts carefully using the relevant diagrams. what happens to the equilibrium level of GDP(Y) given the following: a) a reducti
edge worth model
indifference curve and budget line
10
Aska) Summarize the basic tenets of the arguments in thiscase b) Do you agree with main tenets of the arguments in the case? Why? Justify your answer with detailed explanations.
List and describe the determinants of the price elasticity of demand and of supply.
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
Returns to Scale Measuring relationship between scale (size) of a firm and output 1. Increasing returns to scale: output more than doubles when all the inputs are doubled
what is International Cartels and Commodity Agreements? Describe briefly International Cartels and Commodity Agreements, what are Commodity agreements?
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