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Price Elasticity
A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater than the percentage change in price there is the response to a change in price is said to be elastic.
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
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how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of consumer
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What is checkable bank deposits?
a) Provide a detailed valuation of an equity investment decision in the current economic climate. Your briefing should include: i) A review of the 'top-down' analysis that led
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What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
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