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what is a perfect competition and how does it differ from monopoly?
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
how to draw a table of the demand and supply scdule
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
I don''t really understand how scitovsky contour is formed.
How does production possibility curve help solve central problems?
Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in
what is iso-product curve
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Q. Explain about Social-Democracy? Social-Democracy:It's a reformist political strategy that aims to win certain improvements in social and economic conditions under capitalism
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