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describe returns to scale and give examples of each.
GIVE AND EXPLAIN IN DETAIL,ARGUMENTS GIVEN TO EXPLAIN LEONTIEF''S EMPERICAL FINDINGS ON THE HECKSCHER-OHLIN MODEL OF TRADE.
Explain why both the PES and PED tend to be inelastic in the short run for primary goods. PED deals with (primarily) the ability and propensity of consumers to switch to other
Development Administration: Since the Government has been entrusted to manage economic and business activities, it was found difficult to manage the economic policy with the t
what is the relationship between TP, MP and AP
Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"? The BEA made the switch from the constant-dollar metho
What do you mean by the utility function? The Utility Function: Sometimes this is easier to work directly along with the preference relation and its connected sets. Althou
The prevention of major swings in economic activity can be handled most easily by the
Explain about the determination of equilibria. Determination of Equilibria: The fourth step for studying an economic step is to make trade-off choices and find out the be
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
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