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what is the differences between utility theory, indifference theory and revealed preference theory
DIMENSIONS OF UNEMPLOYMENT: What is the level of unemployment in the country? According to the 1999-2000 Survey of NSSO, the number of unemployed has increased from 20.13 mill
The Free Enterprise: Price System The free market system is where the decision about what is produced is the outcome of millions of separate individual decisions made by cons
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. The narrowness of the definition of the commodity
Player 2 C B A 1,2 3,2 B 2,3 a, b Player 1
Is it possible for a firm to be both Price taker and price maker? A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar
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Shifts in Supply and Demand When supply and demand vary at the same time, the impact on the equilibrium price and quantity is known by: 1. The shape of the supply and dema
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