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Q. Explain about Demand - Constrained?
Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or spending) on its products. Capitalist economy is generally demand-constrained. Only rarely is the economy supply constrained: that is, limited by availability of workers and other productive resources.
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
Describe stabilisation policies as by the International Monetary Fund (IMF). Define stabilisation policies as basically a list of demands set forward by the IMF to a debtor nat
cobb douglas production function?
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
In an essay of at least four well-developed paragraphs, discuss U.S. economic policy. Be sure to include the following information in your essay: Compare and contrast the economi
illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine
Explain about the money metric utility functions. The Money Metric Utility Functions: It is a nice construction including the expenditure function which comes up into a vari
Choosing Output in Long Run * In long run, a firm can change all its inputs, including size of the plant. * We are taking free entry and free exit. * Accounting
In the case of a tax abolition on food staples, what are the short run and long run effects?
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