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How economic theory explain optimum pattern of consumption for an individual consumer
Mixed Economy: This type of economic system combines the features of both the capitalist and socialist economic systems. The private sector is allowed to function on the principles
an explanation of the meaning of price ceiling
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
objestive of williamson modle
why use GNP in macroeconomichs analysis
state the law of downward sloping demand
The Concept of Efficiency is stated below: To illustrate this concept of the efficiency, it is used to expand the understanding of what is meant by the Pareto-efficient allocat
Revise business plans to incorporate appropriate changes.
implication tructures of various market structures for price determination
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