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The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
what is the theory of supply
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Illustrate about the elasticity of substitution. The Elasticity of Substitution: The technical substitution’s marginal rate measures the slope of an isoquant. As well the el
How to solve general equilibrium in pure exchange economy with 2 consumer and 3 commodities
Non-existence of Objective Probability Distributions : Let us see why expectations are volatile in nature? According to Keynes (1936, pp. 149): "Our knowledge of the fact
describe scitovosky''s double criterion
Describe one case that fits the story of Prisoner Dilemma in not more than 10 sentences. It should fit the following features and it should not be any of the examples we already ta
Implicit in these analyses is the fact that without government we could have neither shortage nor surplus. In large calculates, the suspicion of government is due to it has the po
suppose you have a coffee shop. list of fixed input and variable input for operating the shop
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