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Change in consumer income: A change in consumer income may bring about a change in the quantity demanded of a good or service. However, the direction of change in quantity deman
When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
Problem 1 : (a) What are the main assumptions behind the macroeconomic theory of New Classical Economists? (b) Describe the Lucas Supply function and explain its policy imp
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how can we bring in the marginal propensity to consume
illustrate and discuss the implications of various market structures (competitive and non competitive) for price determination
Long Waves: Longer-term periods of stagnation or growth in the economy, that can last for a decade or more and reflect broader changes in technology, politics, and international re
The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. It originated from countries with highly sophisticated fin
#quesSuppose that two anti-marijuana proposals are currently being debated in Congress. Proposal I will reduce the supply of marijuana and cause its price to rise by 7%. Proposal I
Question 1: (a) The Mauritian government is now increasingly involving the private sector in the development of the economy. How can government support effective private secto
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