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Point elasticity
The point elasticity of demand is described as the proportionate change in quantity demanded in response to a very small proportionate change in price. The concept of point elasticity is useful where change in price and consequent change in quantity demanded are very small.
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
Other Determinants 1. Rate of Interest Is contained in the argument of the classified economists who argued that rational consumers will save more and consume les
What is producer surplus? “The more the competition among the sellers, the less the producer surplus enjoyed by the producers” – do you agree with the statement. Justify your answe
Analysis of unemployment in relation to economics
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
THE ACCELERATION PRINCIPLE Suppose that there is a given ratio between the level of output Y t at any time t , and the capital stock required to produce it K t and that
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Price Elasticity of Supply Price Elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price. The co-efficient of the elasticity of s
define scarcity and opportunity cost.Show how these concept are useful in managerial decision making
"A budget deficit that is only temporary cannot be the source of inflation." Is this statement true, false, or uncertain? Describe your answer.
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