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When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
Explain the term Fordism Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
Define Disposable Incomeand dumping Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera
can you help me figure out how to create a graph with little or no information
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
why is normal rate of return on capital included in the total cost and what implication does it have
Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices - The formula of it is: * Arc Elasticity of Demand: An Example
Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
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