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What is identity economics? How does identity economics help to explain economic questions that standard economics fails to address?
Compare the price elasticity at two parallel demand curves at a given price. This has been explained in Fig above where two demand curves AB and CD are given that are parallel to e
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
Marginal Revenue Marginal revenue is the additional revenue an organization receives resulting from the sale of one more item of output. Marginal revenue is calculated by takin
What is an effective need of demand 1. An Effective Need: Effective need demands that there must be a need supported by the capacity and readiness to shell out. Henceforth there
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2 . Thanks a lot!
Q. Time Factor for Determinants of Demand? Price-elasticity of demand depends moreover on the time that consumers take to adjust to a new price: longer the time taken, greater
Q. What is Production and Cost Function? Production functions and cost functions are the keystones of managerial and business economics. A production function is a mathematical
Given a saving function of S = -25 + .2Yd, a $10 billion enhance in government spending will bring about how many dollars of change in consumption?
REASONS FOR FLUCTUATIONS IN AGRICULTURAL PRICES Production depends on factors beyond the control of the producers e.g. weather, disease and pests. Actual and planned output i
Household This refers to all the people who live under one roof and who make or are subject to others making for them, joint financial decisions. The household decisions are a
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