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Point Elasticity: Point elasticity is brought in use when the change in price is quite small, which means. The two points between which elasticity is being measured or calculat
Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
Explain the Kuhn-Tucker Theorem in economics. Kuhn-Tucker Theorem: Assume that x solves the inequality constrained optimization problem and also satisfies the constrained qu
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT: The main function of the IBRD is of long-term capital assistance to its member-countries for their reconstruction and de
I am risk averse, and trying to maximize my expected value of c0, 5, where c is my fortune. I have 50.000 in cash, and also art with a value of 200.000 which I keep in my basement.
how to estimate a regression model that tests for higher ability individuals get a greater return from schooling
Explain in detail the concept of PPC with suitable eg.
what do you understand by production posibility curve?
Differentiate between inflation and unemployment. Inflation is an increase in the general price level that results in a decline in the purchasing power of money. In economics,
Q1.Define law of demand. Distinguish between individual demand and market demand for Hitachi air conditioners. List the determinants of demand for the same.
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