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Organization for Economic Development (OECD)
An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and economic development. The OECD's membership consists of the world's developed countries like Austria, Australia, Belgium, Denmark, Canada, France, Finland, Greece, Iceland, Ireland, Italy, Luxembourg, Japan, the Netherlands, New Zealand, Spain, Norway, Sweden, Portugal, Switzerland, Turkey, United Kingdom and last is The United States.
Problem: Long-Run Labor Demand and Factor Substitutability Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce
The most significant uses of the price elasticity of demand, used specifically in business decision-making. It refer to the relationship between price elasticity and the marginal c
PRINCIPLES OF AN OPTIMAL TAX SYSTEM When taxes are imposed certain conditions must be fulfilled. These conditions are known as Principles or canons of taxation. According to
What will be the table of total cost function?
Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo
Suppose the consumer can choose either coffee shop 1 or coffee shop 2, but not both. - Assuming that other things (such as location, quality of coffee, and so on) are the same,
exaplain cournot''s duopoly model with graph?
Q. Proportion of Income Spent on a Commodity? Another characteristic that has an impact on the elasticity of demand for a commodity is proportion of income that consumers use u
Barriers to entry in pure oligopoly The barriers to entry can be artificial or natural. Artificial Barriers This can be acquired through: State protection throu
Q. What do mean by Convex Isoquant? Isoquants are convex to the origin: At any point of an isoquant,the slope is negative. Its numerical value measures the marginal rate of te
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