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During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
what is the importance of law of supply
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
using the marginal utility approach, discuss how economic theory explains the optimum pattern of consumption for an individual consumer. consider how far this analysis can explain
It is necessary for the proper understanding of the price theory to know the various concepts of cost that are often employed. When an entrepreneur undertakes production of a commo
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Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
Illustrate about the elasticity of substitution. The Elasticity of Substitution: The technical substitution’s marginal rate measures the slope of an isoquant. As well the el
Tariff: A tariff is a tax imposed on the purchase of imports. It is generally imposed in order to stimulate more domestic production of the product in question (rather than meeting
Is there any relation between inflation and unemployment? The Phillips Curve was a relationship among unemployment and inflation discovered by Professor A.W. Phillips. He foun
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