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explain nature of microeconomic
what is the relationship between TP, MP and AP
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
Inflation is not possible under the gold standard.” Is this statement true, false, or uncertain? Explain your answer.
Question 1: i) Elaborate on how CPI is used to calculate inflation and what are the limitations of such a measure? ii) Growth is always beneficial. Discuss iii) Explain
Expected Utility: Theory Assume that a utility index exists which conforms to the five axioms. The expected utility for the two-outcome lottery L = (P, A, B) is given by,
The Efficiency of a Competitive Market *? When an competitive markets generate an inefficient allocation of the resources or market failure? 1) Externalities Costs
how to calculate growth rate in closed economy
Halala is a small country that uses most of Its resources to produce fruits and vegetables. If the country produces only fruits it is able to produce 8000kg of fruit per year. If i
how do I determine the profit-maximizing quantity of a firm for different market prices when only given TFC, TVC, and the market price
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