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Perfect Competition
It's a market where conditions prevail like that buyers and suppliers are without the ability to manipulate price in any significant way such that the market dynamics are determined almost completely through the forces of supply and demand.
what is market economy and how it solve the central problem
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
what is reciprocal demand?
Yao''s weekly demand for basketballs is given by Qd = 3-P^2 where P is the price of basketballs. At the current price, Yao''s demand for basketballs is unit elastic. What is the cu
output and price determination under oligopoly market structure
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What is the formula for heat and how do you solve it?
what is ratios GNP? what is use of models in macroeconomics?
Should the bank not have anyone to lend the demand deposit to (like that will ever happen) would the size of the money multiplier decrease? If so, why?
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