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1 Differentiate between a firm and a market.
2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand curve for a perfect competition.
Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
discuss the revealed preference theory of consumer behaviour
why does the quantity of education change in the private universities much more responsive than salt as to changes in price?
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if marginal cost descreases then what else is effected by this
What is the difference between 'Capital' and 'Capital value'? "The total amount of money or other resources owned or used to obtain future income or benefits." On the other h
In a perfectly competitive market the price of the product is?
derive demand equation
Mg(OH)2 + 2HCl-----> MgCl2 +2H2O how many grams of magnesium chloride can be produced from 14.60mL of a 0.546M hydrogen chloride solution?
Explain welfare grants and subsidies
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