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What is identity economics? How does identity economics help to explain economic questions that standard economics fails to address?
For some time, two firms have charged $0.90 per standard unit of crating materials for shipping a particular type of machine tool and each has been selling about 20,000 units per m
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
how equilibrium output can be find in williamson model
Opportunity cost is cost of a different that must be forgone in order to pursue a definite action. Put another way, the advantages you could have received by taking an alternative
Income elasticity of demand The income elasticity of demand measures the degree of responsiveness of the quantity demanded of a product to changes in income. Its co-efficient
Problem 1: You are the manager of a reputed five star hotel in Mauritius and you have been asked by the director of the hotel to advise on possible pricing strategies to increa
Income Elasticity of different consumer goods Commodities Coefficient of income elasticity Impact on expenditure Necessities
Consider an economy with three assets and three states. Let be the matrix of asset payoffs at t=1 and p the vector of asset prices at t=0. Assume p 3 =2. a) Does an ar
Define scarcity and opportunity cost. Show how these concepts are useful in managerial decision making
DETERMINANTS OF MONEY SUPPLY The total supply of nominal money in the economy is determined by the joint behaviour of the central bank which controls the total issue of the hig
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