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INDIRECT TAXES
These are imposed on an individual mostly producers or traders but they can be passed on to be borne by others usually the final consumers. They can also be defined as taxes where he incidence is not on the person on whom it's legally imposed. They include excise duties, sales tax, Value Added Tax and others.
Q. Explain about Concave Isoquant? If the isoquant is concave to origin it would mean that marginal rate of technical substitution is increasing. This behaviour is explained in
what is third degree discrimination
Milton Friedman makes the demand for money a function of the real per capital permanent income. in this study the demand function for money is stated as; M/NPP= r( YP/NP) δ W
Laws of returns to scale alludes to the long-run analysis of the laws of production. In the long run, output can be increased by varying all factors. So in this section we study th
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How economics contributes to managerial functions However economics is variously defined, it's basically the study of logic andtechniques and tools, to make optimum use of ava
Explain the classification of oligopoly?
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Hayek explaination Under a fractional reserves system, it is possible for the banking system to supply resources to entrepreneurs for investment in excess of resources that are
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