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Mercantilism:It is an economic theory from pre-capitalist times which held that a country's prosperity depended on its ability to produce large and persistent surpluses in its fore
Slutsky Theorem - Mathematical Presentation: We already know from the first order conditions of utility Maximisation that, where D ij is the co-factor of the ith ro
what do we mean by The narrowness of definition of the commodity.
Why do actinides exhibit o.s equal to the sum of the valence electrons.
A firm has a short-run production function defined by: Q = -. 02L 2 + 8L What is the short run demand curve for labour (L) in terms of the market wage rate (w), if
If the inverse demand curve is p=120-Q and the marginal cost is constant at 10, how does charging the monopoly a specific tax of r=10 per unit affect the monopoly optimum and the w
Question : (a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether c
How many hours will an individual allocate to leisure if their indifference curves between consumption goods and leisure are concave to the origin? Show in figures and explain in
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How has the haberler''s theory of opportunity cost an improvement over the classical theory of trade
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