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Conventions as a Basis for Forming Expectations : Since there is little objective basis for probability distributions about future yields, decision-makers have to act on the ba
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
calculate demand function is Q=100-P, where Q is quantity demand and P is price
what is the indirect utility/
Define the production terminology in short. Production Technology: Production is the procedure of transforming inputs to outputs. Characteristically, inputs consist of labor
risk describe,prefrence towards risk,the demand for risky assets.consumer behaviour under asymmetricinformation
Smoking cigarettes is a leading cause of many diseases
Using a diagram explain the equilibrium point of a monopoly
Demand Pull Inflation and Cost-Push Inflation: Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in n
1. Consider an individual facing a wage rate w . There's a total of 100 hours available for work or leisure in a week. (a) Represent his budget constraint graphically (b)
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