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why use GNP in macroeconomichs analysis
1) Lynne's income is £2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1/8. If this happens, she will be sued for £1, 000 and will have to pay th
Market equilibrium happens where supply equals demand (supply curve intersects demand curve). An equilibrium implies that there is no force that will cause further changes in pri
Australians are turning to scooters to combat escalating petrol prices. After a slump in the March quarter this year, demand for scooters was up by more than 7 per cent in the firs
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
#question.what is meant by ppc?illustrate the central problems of aneconomy with this curve.
1
How have falling commodity prices affected many developing countries? Definition of commodities; raw material like copper, iron and bauxite; and agricultural goods like rice an
why value of marginal product is negatively sloped
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