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the general characterictics of economic models,its limitations and verification
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
Lack of Integration in Policy Formulation and Policy Implementation: A common thread uniting these diverse diagnoses and prescriptions can be seen among most of the critical e
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
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o
How might one measure differences in living standards between less developed and developed countries? This is a very wide question where any clear and relevant calculate shoul
why is choice inevitable in the understanding of economics science?
Illustrate and discuss the impliction of various market structures(competitive and non-competitive)
WHAT ARE THE COMPONENT OF ECONOMICS
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