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Define and explain the following economic terms: Economics, Microeconomics & Macroeconomics Positive vs. Normative Economics Law of Diminishing Marginal Utility Opport
Define the concept of cross elasticity of demand
what are tne methots of demand forecasting ?
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
Monopolistic Competition and Oligopoly: It was recognized that most industries exhibit the features of monopolistic competition in real-life. However, it must be pointed out t
Q. Explain about Social-Democracy? Social-Democracy:It's a reformist political strategy that aims to win certain improvements in social and economic conditions under capitalism
Fixed input and variable input: A fixed input is that input whose quantity cannot be varied in the short-run when demand conditions require an increase or a decrease in produc
an increase in immigrants
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