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How can we identify that something is elastic or inelastic?
When demand of any commodity does not change with the change in price of that commodity that item is said by inelastic. When demand of any commodity alters with the change in price of that commodity that item is said by elastic.
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
discuss the implications of various market structures(competitive and non-competitive)for price determination
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what the contenporary issues in micro economics in nigeria
The Concept of Efficiency is stated below: To illustrate this concept of the efficiency, it is used to expand the understanding of what is meant by the Pareto-efficient allocat
assignment on consumer equilibrium
Mediterranean Regional Project (MRP) Technique This technique had been initially employed by the OECD (Organisation of Economic Cooperation and Development, Europe) to prepare
A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
Define Disposable Incomeand dumping Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera
advantages and disadvantages
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