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Explain the difference between a stock and a flow.
A stock is something whose quantity is calculated at a point in time, whereas a flow measures the quantity of something over a period of time
short run equilibrium of the industry
mixed strategy
Fixed input and variable input: A fixed input is that input whose quantity cannot be varied in the short-run when demand conditions require an increase or a decrease in produc
Marvelous Marvin spends his money on muffins (m) and a composite good (c) (whose price you may assume is $1 throughout this problem). Marvin's utility is U = m + c and his income (
Q. Explain about Contingent valuation? Evaluation of willingness to pay for a specified environmental resource or a change in the resource, through use of structured questionna
What are the causes of emergence of monopoly?
explain normal profits and abnormal profits
what is the theory of second best?prove the theorm with the help of diagram?
marries model
Composition of Trade: It is indicative of the structure and level of development of an economy. For instance, most of the UDCs depend for their export earnings on a few primar
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