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Suppose scientists discover that eating soybeans prevents cancer and heart disease
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
Inductive effect
Ask question # how do you formulate a demand and supply equations when you a table of prices, quantity demanded and supplied?
Consumer Preferences Indifference curves represent all the combinations of market baskets which provide the same level of contentment to the person. Consumer Preferences
What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
Q. Define government surplus? Surplus, Government:It's a government surplus exists when a government's tax revenues surpasses its total spending (including both program spendin
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
A tax imposed on a market with an inelastic demand and an elastic supply will cause
Explain about the deadweight loss and elasticities. Deadweight Loss and Elasticities: The common rule for economic policy is the other things equal; you need to select the p
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