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consumer surplus and elasticity of demand assumption of consumer surplus criticisms of consumer surplus consumer surplus in terms of indifference curves importance of the concept o
Growth of Agricultural Production and Productivity: Post-independence period was marked by severe and recurrent shortages of foodgrains. Dependence on imports of foodgrains wa
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Capital: Broadly defined, capital represents tools that people use when they work, to make their work more efficient andproductive. Under capitalism, capital can also refer to a su
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo
value of marginal product
What are the advantages of trade surplus
why is the point outside the production possibility curve(PPC)called unttianable
Suppose that you can produce high-quality beef at $3 per pound and sell it for $8 per pound. Low-quality beef costs $1 to produce but only sells for $4 per pound. If quality is uno
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