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Question 1: (a) Clearly illustrate the features of a perfectly competitive firm. (b) How would the same industry change if it were organized first as a competitive industr
Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
1. Suppose the banking system has reserve of $750000, demand deposits of $2500000 and a reserve requirement of 20%. a. if the fed now purchases $125,000 worth of govt bonds from t
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
Ask q3x+5=20 uestion #Minimum 100 words accepted#
Comparison with Other Countries: The basic purpose of this type of comparison is that: (i) it helps us to know the potentials of growth that can be built up in an economy,
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
what is isoquant ?
Economies of Scale
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