economic models, Microeconomics

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what is the use of models in economics?

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A mixed economic system solves basic economic problems, Why do some people ...

Why do some people believe that a mixed economic system solves basic economic problems?  Ans) It is due to  the private sector and public sector both have a say in answering the

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Substantial practical value, The cross elasticity of demand calculates the ...

The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product.  For example, the quantity demanded

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Deficiency of Vitamin A Deficiency of Vitamin A has been found to impose adverse effects on roughly one third of the children below the age of five around the world. It has also be

Indifference curves, Indifference curves present all possible combinations ...

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Demand and supply, draw the demand curve,when there is rise in the price of...

draw the demand curve,when there is rise in the price of a product on the demand of the product

Public good , Graphically illustrate how society decides on the number of p...

Graphically illustrate how society decides on the number of police officers to hire

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