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What is the difference between an economic luxury and an economic necessity?
Ans) An economic luxury is wasting land on pools huge garden, etc. An economic requirement is what you require a certain amount of space (houses) to make something very essential (to live in)
A student is taking two courses, History and Math. The probability that the student will pass the history course is .60, and the probability of passing the math class is .70. The p
For which of the following medical goods or services is the income elasticity of demand largest? a. emergency services after a car accident b. measles shots c. physical ex
Ask question #Minimum 100 words accepWith aid of evidence in the given article, comprehensively discuss the market structure in the South African mobile telecommunications industry
I want you to solve problem in Macroeconomics.It is in the file attachment.
A biologist working in the Outback of Australia is studying the effects of land-use by tourists (campers, fishers, etc.) on vegetation cover in a river gorge of the outback. There
the circular flow of income in an governed economy
Individual A has UA(XA,YA)=lnXA+2YA and has $500. PX=5 and PY =10. (a) Find the optimum. Show that it is indeed the maximum. (b) PX=10. Find the new optimum. (c) Calculate
The aggregate demand curve shows the combinations of the price level and the level of output at which the goods and money markets are simultaneously in equilibrium. Let us now go o
Explain, using the best framework you can think of (based on our class discussion), the effect of a large federal deficit on interest rates.
How are individual makes choices? Fundamental principles behind the individual choices are as follows: 1. Resources are scarce . 2. The real cost of anything is what y
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