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advantages and disadvantages
Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand
the general characterictics of economic models,its limitations and verification
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equation for a demand curve is p=2/q. what is the elasticity of demand if price falls from 5 to 4
What are the uses of elasticity’s to the public sector and private sector?
Q. What do you meant by Informal Economy? Informal Economy:Informal sector of the economy represents the production of services and goods for the own-use of the producers or fo
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
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