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using demand and supply curves explain how shortage and surplus are created
Problems relating to national income estimation: Changing prices of goods and services . Prices of goods and services do change from one period to another. This makes compari
What is meant by labor force? In economics the labor force is the group of people who have a potential for being employed. Normally, the labor force having of everyone above
A tax imposed on a market with an inelastic demand and an elastic supply will cause
elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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a more simple explanation of the group equilibrium in the short and long run
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Perfect competition: Perfect completion refers to the market structure in which there are a large number of relatively small firms, each firm having freedom of entry into and
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
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