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explain and illustrate the changing demand for big mac using indefference curve and budget line
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
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illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
What are the uses of elasticity to the private sector
Consider a hypothetical ABC economy in which the narrowly-defined measure of the money supply (M1), as defined in the Canadian sense, in existence is 1250$ million. Assuming the e
elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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We consider two regions A and B. Each market has the same size (i.e. number of consumers) but differs in the willingness to pay for one unit of the good proposed by the firm. On ma
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