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Income and Substitution Effects
A fall in price of a good has the two effects: Substitution & Income
-Substitution Effect
- Income Effect
Calculate Marginal Revenue
Functions
heckscher - ohlin theory of trade
what is bains theory ? describe with the diagram
What is Deflation? Deflation in economics refers to reduce in the general price level, i.e. the nominal cost of goods and services as well as wages reduce. As, it is an opposi
Choosing Output in Long Run * In long run, a firm can change all its inputs, including size of the plant. * We are taking free entry and free exit. * Accounting
What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut
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describe the dominent firm model
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