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What are the important functions to maximize total surplus? The market equilibrium maximizes total surplus since the market performs four significant functions are as follows:
Explain why both the PES and PED tend to be inelastic in the short run for primary goods. PED deals with (primarily) the ability and propensity of consumers to switch to other
duality was used in comparative static approach in assessing the direction of change on economic variables . Why do we need duality and under what condition may duality can''t be u
How would you convert from moles of iron(III) oxide to moles of carbon monoxide?
Briefly discuss the components of macroeconomics system with suitable explanation
concept of innovation theory of profit and criticism
i want an application on indifference curve of a specific firm? can i get it easily?
Balancing Needs and Resources planning is a balancing act. It involves the balancing of needs with resources towards set goals. Likewise, educational planning involves the bal
Problem 1: i) It has often been argued that a monopoly has both costs and benefits. Discuss. ii) Explain, using diagram the short and long equilibrium positions of a monopo
"price makers" never want to produce in the inelastic part of their demand curve why
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