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Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
What defines the fact that the value of global production has grown by a factor of 4.6, while the value of global production per capita has grown by a factor of 2? The enhance
what is cob duglus production function?
Create a chart with a secondary vertical axis to plot related data series with different scales. Use the Combination Chart Fashion worksheet to create and format a combination c
what is the relevance of microeconomic analysis in contemporary Nigerian economy
why value of marginal product is negatively sloped
Interest rate sensitivity can also be understood from another perspective. The total cost of a commodity is not just its price, but also what must be paid to borrow money to purch
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
Real Interest Rate: Interest rate on a loan, adjusted for rate of inflation. Real interest rate represents real burden of an interest payment. Real interest rates should be positiv
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
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