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Q. Explain General Equilibrium?
General Equilibrium: Neoclassical economics presumes that production, employment, investment and income distribution are all determined by a condition of equilibrium (with demand equalling supply) in each single market (including markets for both factors of production and produced services and goods).
what is Law of Demand?
question #Minimum 100 words accepted#History of cobweb theory
Development: Economic development is the process through that a country's economy expands and improves in both qualitative and quantitative terms. Economic development requires co
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Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
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