Identify the basic postulates of economics, Microeconomics

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Question 1 Identify the basic postulates of economics

Question 2 Discuss the role of price mechanism

Question 3 Explain the shape and application of Engel curve

Question 4 Discuss the various features of optimal expansion path

Question 5 Once a price-quantity combination is determined, an oligopoly firm does not find it profitable to change its price. What is the logic behind this?

Question 6 Graphically explain Keynesian theory of interest

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What is Diverstification?

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