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What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
I need to find recent disney cruise stories and what microeconomic theory it is and what they should do. for example renovating a ship why did they and what theory would that be?
what is diversification
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
Income and Substitution Effects: Normal Good * The Special Case--The Giffen Good - The income effect may be large enough theoretically to cause the demand c
Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
Two firms, A and B, are planning to bid for a contract of Motorway extension in Mauritius. Suppose: (1) firm B is a newly established company and has already incurred a st
Explain about the specification of economics environments. Specification of Economic Environments: The primary step for studying an economic issue is to identify the econom
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
How would you construct an estimate of marginal cost, & ?C(w, y) , in each period? ?Y
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