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Define and explain the following economic terms: Economics, Microeconomics & Macroeconomics Positive vs. Normative Economics Law of Diminishing Marginal Utility Opport
Q. Can you explain about Counterfactual? The ‘base case' or counterfactual is a statement of what could have happened without policy intervention, or if the policy intervention
INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
Factors Shifting Demand Curve: Factors Changing Demand Effect on Demand Direction of Shift in Demand Curve Ef
explain the following disadvantages of amalgamation. Complex nature
Sources of monopoly power: The main sources of monopoly power include the following: (i) Control of the entire supply of a basic input . It only one firm has access to or co
Fiscal Imbalance: The persistent rise in resource gap has led to a growing volume of public debt. The central feature that emerges is a serious fiscal imbalance, arising from
Gibb''s energy In every chemical system, the substance moves in a direction in which there is a decrease in free energy, for example i.e. ?G is negative. G = H - TS where, G is
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
what is microeconomics in business decision
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