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2 i) Explain what are the key assumptions by the welfarist approach. ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it
Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complement
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The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
hoe does the knowledge of price elasticity of demand important to the government
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How do I draw and interpret a combined ppc curve?
why does the quantity of education change in the private universities much more responsive than salt as to changes in price?
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