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Explain the term economic efficiency?
Answer: Economic Efficiency means full utilization of all available resources in economy i.e. to produce the needed amount of goods and services. When economy is producing its needed amount of goods and services by utilizing all of its resources, then the economy is considered to be an efficient economy.
What does economic theory contribute to managerial economics? Explain
prove that marginal utility of x=the price of commodity x.
what are the values of real money supply and the current price level
Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways. • It provides flow of technology which al
THERE IS PRESSURE ON THE CENTRAL BANK TO INCREASE MONEY SUPPLY WHAT WOULD BE THE EFFECT ON THE MACROECONOMIC VARIABLE
How does an increase in the size of a future payment affect the present value of a future payment
What are constant returns to scale? Constant returns to scale: A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a
x-3y+6z=1 2x-5y+10z=0 3x-8y+17z=1
Explanation
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