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What is the difference between GDP and GNP? Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea
Market equilibrium happens where supply equals demand (supply curve intersects demand curve). An equilibrium implies that there is no force that will cause further changes in pri
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
What would be a factor that would make the prospects hopeful for overcoming the demand for resources in the future
Why elasticity is important for economic analysis? Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to
Explain the role of managerial ecnomist in kissan &dipsy fro ub group
what is the theory of second best ? prove the theorem with the help of a diagram ?
Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. T
GENERAL PRINCIPLE OF EXTRACTION OF METALS
Functions and Resources of the Bank The main functions of the Bank are as follows: • to assist in reconstruction and development of the territories of it member-governmen
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