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During a given interval a nation''s overall productivity grows at a compounded rate of 2%. Its population growth rate and degree of labor-force participation do not change over thi
subsitution effect dominate tha income effect in which good case?
Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
what is theory of product pricing?
Why narrowness of definition of a commodity may influence price elasticity of demand
concept of supply
Question : (a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether c
Positive versus Normative Economics Positive Economics Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
Player 2 C B A 1,2 3,2 B 2,3 a, b Player 1
the meaning of supply
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