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explain circular flow of income in an open economy
Explain about the economies and diseconomies of scale. Economies and Diseconomies of Scale: a. There are economies of scale while long-run average total cost refuses as outp
Q. Explain Reversed Say's Law? In the cross model, supply should instead follow demand. Cross model not only rejects Say's Law, it turns it entirely upside down. In the cross m
Must use current data! I do not need a response until later this week, so take your time. In addition, I will be using your information as reference only. I will not plagiarize. Th
Consider the utility function u(x1, x2) = x1x2. (a) Graph the indifference curves for utility levels 1 and 2. (They are symmetric hyperbolas Asymptotic to both axes). (b) Graph the
It refers to the study of feasibility of a project in terms of its total economic cost and total economic advantages. It means to compare total cost with total advantage if we
The circular flow of income in a simple economy where all income is consumed The operation of forces in an economy can be expressed in the form of a circular flow of incomes a
Product A is an end item and is made from two units of B and four of C. B is made of three units of D and two of E. C is made of two units of F and two of E. A has a lead time o
Component of balance payment: BOP is a statement that summarises all the economic transactions between residents (individuals, companies and other organisations) of the home
Q. Explain about Phillips curve ? The Phillips curve According to traditional Phillips curve, there is a negative and stable relationship between unemployment andwage in
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