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The price elasticity ( ε ) of demand for Q has been estimated at -0.5. Current consumption Q* is 70 units and market price (P*) is 0.70. a. Fit a linear demand curve to the obs
discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
Limitations of the Services Sector: The services sector in India, as at present, suffers from low productivity and low quality in spite of fairly large investment in technolog
characteristics of microeconomics
Explain consumer sovereignty and why it might not be that extensive in real life. Explanation of consumer sovereignty Use of S/D model to show how changes in consumption pat
definition
#quesSuppose that two anti-marijuana proposals are currently being debated in Congress. Proposal I will reduce the supply of marijuana and cause its price to rise by 7%. Proposal I
Explain how foreign aid might help in the development process of a developing country. Definition/outline of various forms of aid, i.e. donor aid, tied aid, bilateral aid etc.
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
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