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A trend line can be fitted through a series graphically. Old values of sales for different areas are plotted on a graph and a free hand curve is drawn passing through as many points as possible. The direction of this free hand curve shows the trend. The main draw bask of this methods is that it may show the trend but not measure it.
Why elasticity is important for economic analysis? Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to
conditions of pareto optimality
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
why value of marginal product is negatively sloped
discuss the law of variable proportion with the help of isoquants
Example: The Value of Clean Air Air is free in sense that we do not pay to breathe it. Question: Are benefits of cleaning up air worth the costs? People pay extra to buy
Determine the Cost Efficient Levels of Emissions Reduction Two firms produce a pollutant called Q. The total cost of reducing emissions of Q are as follows for Firm 1 and Fir
assingnment on production cost
what is Law of Demand?
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
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