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In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: D(p) = 1200-25p where p is the price for one cone of ice cream. Al
what is general equilibruim?
Q. What do you meant by Deficit? Deficit: When a business, government or household spends more in a given period of time than they generate in income, they suffer a deficit. A
how does economics bridge the gap between economic teory and practise
Provide an economic explanation of what you have shown in your diagram above. Iceland was a small open economy with perfect capital mobility. Consequently, the equilibrium domesti
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
optimal contracts under symmetric information
Explain the link between the rate of interest and inflation. Interest can be explained as the price of money - more expensive money will lead to few loans, higher saving and as
Law of mass action states that at a constant temperature rate of a chemical reaction is directly proportional to product of active masses of the reactants raised to the power equal
equilibrium of production
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