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Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
I am risk averse, and trying to maximize my expected value of c0, 5, where c is my fortune. I have 50.000 in cash, and also art with a value of 200.000 which I keep in my basement.
steps for law of coservation of mass
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thoery explanation
price elasticity of demand any 2 commodities
Question: (a) Using an example, differentiate between private, social and external costs and benefits. (b) With the use of a diagram, describe the difference between profi
How does the indifference curve and budget line for a neutral good look like?
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
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