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Explain how consumers might benefit from the existence of monopolies. While the standard issue of monopolies having higher prices and lower output that competitive markets migh
equation for a demand curve is p=2/q. what is the elasticity of demand if price falls from 5 to 4
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
i want to know that ,wheather lithium iodide can be used as redox electrolyte? and acetonitrile canbe used as redox electrolyte? ehich is more efficient?n..
Reorder Point Techniques Systems based on reorder points assume that demand is uniform and predictable and that there is no true identifiable time of need. Hence, stock must a
Problem 1: a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. b. According to you, which type of economic system is most desira
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
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
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