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The neo-classical view
The neo-classical view is that market forces are the best directors of the economy. Positive attempts by the government it is argued inevitably make things worse. The correct posture for fiscal policy, therefore, is simply to minimize the role of government, thus leaving the largest proportion of the economy possible to be run by the market forces.
An Economy consists of two regions, the North & the South. The short-run elasticity of labor demand in every region is -0.5. Labor supply is perfectly inelastic within both regions
distinguish between industry demand and firm demand..
Principles of Managerial Economics points
Q. Can you explain about Demand Forecasting? Demand forecasting involves forecasting and estimating the quantity of a service or product that consumers will buy in future. It a
When given two demand functions to calculate elasticity of demand do you use point elasticity or arc elasticity of demand formula
definition of optimal use of veriable input
What is Managerial economics according to McGutgan and Moye McGutgan and Moyer: "Managerial economics is the application of economic theory and methodology to decision-making
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
THEORY OF COMPARATIVE ADVANTAGE In his theory put forward in a book published in 1817, David Ricardo argued that what was needed for two countries to engage in international t
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