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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.
Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between
use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour on an increase in immigration..
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Telecommunications industry in South Africa
What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,
What happens to the market for cchicken wings if the price of beer increases?
need help for my micro assignment
Is Nigeria''s census accurate?
describe scitovosky''s double criterion
Marginal Revenue, Marginal Cost & Profit Maximization * Determining profit maximizing level of output - Profit (π ) = Total Revenue - Total Cost - Total Revenue (R) = Pq
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