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Price elasticity of supply: It is the responsiveness of quantity supplied of a commodity to a change in the price of the commodity and measured as percentage change in quantit
#• The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
what are the limitations of economies of scale?
Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on
a) Explain the perverse incentive. b) What makes the incentive perverse? c) How could the incentive makers better the incentive?
Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the
what the contenporary issues in micro economics in nigeria
Question: Describe the meaning of ABC inventory control and on what key premise is this system based? The finance department of Electric Corporation gathered the following i
Time Value of Money The time value of money is the price or value placed on time. It is commonly thought of as the opportunity cost related with a particular investment. Money
illustrate and explain the changing demand for big mac using the indifference curve and budget line
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