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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.
little kona is company that is considering enter a market by big brew
explain the central problem of economy with production possibility curve?
The Industry's Long Run Supply Curve * The Effects of Tax - Earlier we studied how firms respond to taxes on an input. - Now, we will consider how firm responds to tax o
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I don''t really understand how scitovsky contour is formed.
diffence b/n fixed and variable input
Price Discrimination: occurs when the same product is sold at different prices to different consumers. A monopolist divided his consumers into groups and sells his product at vary
illustrate and discuss the implications of various markets structures(competitive and non-competitive) for price dertimation
what is cardinal utility. Please give an example
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