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Problem 1: i) How might unemployment arise? ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy. iii) ‘'Inflation always
How does the production possibilietes curve relate to present day economics?
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
discuss the central economic problem facing survivor group
Income Elasticity of Demand is described below: Income elasticity of demand is the percentage change in the quantity demanded/required with respect to the percentage change in
#question meaning ..
if the inverse demand curve is p=120-Q and the marginal cost constant at 10, how does the monopoly a specific tax of 10 per unif affect the monopoly optimum and welfare of consumer
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Example of a cost function
Monopoly is that form of market where there is only one firm producing a particular product. Being the sole supplier, the monopoly firm has the power to control prices and output t
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