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what are the merits and demerits of deductive inductive methods in economic analysis?
Suppose one were asked to recommend a price for the output of a proposed downtown parking garage, so that the project would have as large a Net Present Value as possible. In this
Balance of payments account: The foreign exchange market is an organizational setting within which individuals, business firms, banks etc buy and sell foreign currency. It has
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
What is affected variable and cause variable? In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe
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Explicit cost: Explicit costs are payments made by the firm when it purchases or hires factors of production for the production of goods and services. They are also referred t
Determine the Profit-Maximizing Price If a firm targets a 25 % rate of return on sales, and has unit costs of production of $100, what price should it charge if it uses cost-p
schedules for cost
Discuss whether inflation or deflation is the more serious problem for an economy. Inflation is a consistent general enhance in the price level, whereas deflation is a consiste
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