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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
different types of production funtion and curve given by different economist
why diminish MRS?
Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the l
Q. Market Income and Socialism? Market Income: A household's total pre-tax income obtained from its activities in formal economy, including salaries andwages, investment income
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An individual derives utility from consuming goods X and Y according to the following estimated utility function U = 12X 2/3 Y ¼ X and Y are quantities (units) of
Topic: Please choose a case study in water related area and analyse it from at least two angles (or more) by examining the technical side as well as the economical, social and poli
CES production function and its derivation
Average Product (AP) of a Factor: The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions,
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