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Using commodities as an example, explain the factors influencing the PES for such goods.
The basic determinants of PES are time span included and the availability of producer substitutes.
Both of these help to outline commodities as having low PES.
Pollutant Any substance, species produced either by a natural source or by human activity, which produces very adverse effect on the environment is called pollutant. Some commo
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
conditions for an abnormal supply curve
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Motives of regional financial institutions: There are mixed motives for the donor countries to provide development assistance to developing nations. While a desire for poverty
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.
Which of the following statements is correct? a. Consumers have the ability to buy everything they desire. b. A consumer''s budget line shows the limits to what a consumer can buy.
Consumer Preferences Indifference curves represent all the combinations of market baskets which provide the same level of contentment to the person. Consumer Preferences
Graphical Representation of Various Returns: Diminishing Returns: If the TP curve is as shown in the adjacent Figure, then the MPL given by tanθ is throughout less than the A
compare traditional modern and engineering cost curves
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