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1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs.
2. There are two demand curves for a private (i.e. normal consumption) good: P=30-q1 & P=30-2q2. Let Q=q1+q2 be the total quantity demanded on the market. What is the equation for the total (market) demand ?
diagrammatically condition of consumer equilibirium
Bilateral and Multilateral Contracts Bilateral contract is defined as to purchase & sell certain quantities of a commodity at the agreed upon prices may be entered into between the
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
what are the similarities and differences of marginal productivity and marginal utility
explain the fundamental task of economic system usin tomatoes as an example
formula of range
how might opportunity cost help to explain the pattern of international trade?
Is it possible for a firm to be both Price taker and price maker? A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar
What is the difference between price value and price level? Price value is the value of commodity bought by the consumer at a certain price from the market, while, price level
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