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GDP Growth, Employment and Poverty: The advocates of economic reforms point out that the reform process has the potential of accelerating economic growth. After the teething t
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
discuss whether marginal utility is a realistic piece of economy analysis in a consumer demand
Draw an indifference curve for consumption and hours of work. (Hint: in class we discussed indifference curves for consumption and hours of leisure, this is different.)
Describe what the price elasticity of demand is and why it is of interest in examining markets. Might it be beneficial in the airline industry? Why?
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
What are the economies and diseconomics of scale?
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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
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
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