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Q. Explain the Post-Keynesian Economics? Post-Keynesian Economics: A modern heterodox school of economic thought that emphasizes more radical or non-neoclassical aspects of Joh
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma
Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
How are consequences of economists used? Economists generally use efficiency, information, equilibrium and incentive compatibility like focal points, and examine the consequenc
Discuss about the evaluation step in analytical frameworks. Evaluations: The fifth step into studying an economic step is to estimate outcomes resulting through the under
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Determinants of Private Demand for Education Rates of return on investment in education is only one of the factors determining the demand for private investment though it is
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