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What is identity economics? How does identity economics help to explain economic questions that standard economics fails to address?
Q. What is Marginal cost curve? MC curve is also 'U' shaped as in Figure below. Marginal cost curve falls initially but then reaches a minimum point and lastly rises. Shape of
Collective bargaining Collective bargaining refers to the whole process by which trade unions and employers (or their representatives) arrive at an enforce agreements. Tra
Theories associated with different market structures A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 type
1. The price of a CD (PC) is $10 and the price of a DVD (PD) is $20. Philip has his income (M) of $100 to spend on the two goods. Consider three consumption bundles: (C, D) = (2, 3
Explain factors determining elasticity of demand.
Monetary Theory We have seen that Schumpeter theory which runs in terms of innovations and technical change, is at best an incomplete explanation of trade cycle . there are eco
CAPITAL MARKETS Markets in which financial resources (money, bonds, stocks) are traded i.e. the provision of longer term finance - anything from bank loans to investment in pe
Consider an economy with two individuals. Individual 1 has (inverse) demand curve for a public good given by P1=60-2Q1, While individual 2 has (inverse) demand curve for the public
A firm producing hockey sticks has a production function given by X = 2 KL In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate fo
How does economic theory contribute to managerial decisions?
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