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Explain the factors influencing the value of PED and yED.
PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closeness of substitutes, time frame included, proportion of income spent on good.
YED depends on whether the good may be considered normal or inferior.
There are different reasons for state trading. Important reasons are given below. (i) State may directly buy the goods required by the various government departments and agencie
explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
HOW TO REDUCE SMOKING USING INDIFFERENCE S AND BUDGETLINE
what is the profit maximising quantity of L
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
The basic concepts of price theory
The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?
equilibrium price and output.
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