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Illustrates the stages of the production of an economic conclusion?
The production of an economic conclusion generally goes into three stages as follows:
Stage 1: It is non-mathematical language stage, generates preliminary outputs, propose economic concepts, conjectures and intuitions.
Stage 2: It is mathematical language stage, generates intermediate outputs, provide a formal and rigorous result by mathematical modelling which specifies the boundary of a theory.
Stage 3: It is non-technical language stage, generates last outputs, conclusions, insights and statements which can be understood through non-specialists.
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i want an application on indifference curve of a specific firm? can i get it easily?
how to estimate a regression model that tests for higher ability individuals get a greater return from schooling
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Since World War II, North Korea has had a centrally planned economy in which the government makes the big decisions on how resources will be allocated. Why would you expect North K
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