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Why narrowness of definition of a commodity may influence price elasticity of demand
1. Isoquants are negatively sloped because if the quantity of factor 1 used in production is decreased then the quantity of the other factor must be increased to produce the s
What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
#i need more light about it..
discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
objestive of williamson modle
causes for emergency of monopoly
#explain bains theory of limit pricing theory
Q. What do you meant by Investment? Investment: Investment represents production which isn't consumed though rather is utilized in the production of other additional output. In
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