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Uses of price and income elasticity of demand: The concept of price elasticity of demand has some uses whihc include the following: (i) Pricing of goods and services It is
A farmer produces maize according to the following production function Q m = AK 1/3 L 2/3 Where Q m is output of maize, A = land, K = capital and L = labour Given that
Government Spending Wagner's Law of economic activities applies to every economy. According to this law, there is both an extensive and intensive increase in government activit
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
Stock Market: A place where shares of joint stock corporations are sold andbought. Most modern stock markets no longer have a physical presencehowever rather connected computer net
why slopes of is and lm curves affect effectivness of fiscal and mnetary policy?
TRADE policy: The well known economist D. H. Robertson has immortalized the role of trade in development with his famous statement that "trade is an engine of growth". The pol
what is law of variable proportions?
Human numbers grew as the population after 1800 After 1800, human numbers grew as the population explosion took hold. It carried our entire population to 6 billion in October 1
Illustrate and discuss the impliction of various market structures(competitive and non-competitive)
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