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If rice production is land intensive and computer production is labor intensive, though both good require some land and labor, the two-good production possibilities frontier will c
Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 - 2.5 P and Qs = - 20 + 1.5 P respectively. The equilibrium price and quantity is
What are the general principles about marginal and average total cost curves? General principles which are always true concerning a firm’s marginal and average total cost curve
Question: Table below shows the recent trends in terms of consumption. (a) (i) Explain what is meant by the term ‘marginal propensity to consume' (MPC) and the ‘averag
Firm effects are more important the industry effects. What does this mean? Can you think of situations where this might not be true?
Describe in detail about Exchange rate systems Various countries have different exchange rate systems. The most significant characteristic of an exchange rate system is to what
Enumerate the statement- Interest rates with longer maturity Since loans with longer maturities are substitutes for overnight loans, the central bank also has some control o
Q. Explain about Interest rate? When you borrow money, you normally have to pay a fee for the loan. This fee is frequently known as interest, especially if the fee is proportio
how does economy works?
Are there any current subsidy or welfare issues that are being discussed or addressed in parliament or in municipalities
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