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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
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class
Change in consumer income: A change in consumer income may bring about a change in the quantity demanded of a good or service. However, the direction of change in quantity deman
Why narrowness of definition of a commodity may influence price elasticity of demand
How Airlines solve the perishability of unsold seats and what they do to their prices as the seats get close to perish?
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
sources of oligopory
Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to
demand for risky assets
what are the advantages of monopsony?
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