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Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
baumol''s theory
International Monetary Fund: The International Monetary Fund (IMF), the World Bank and the International Trade Organisation were conceived at the Brettonwoods Conference in Ju
concept of innovation theory of profit and criticism
types of cost
what is micro economics
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
Difficulties in Measuring Cost 1) Output data may represent an aggregate of different type of products. 2) Cost data may not include opportunity cost. 3) Allocating c
What is the difference between GDP and GNP? Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
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