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technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti
Transport Infrastructure: The development of transport infrastructure plays an important role in the growth process through increasing mobility of resources and increasing fac
Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici
Structure of the IMF: The Central office of the IMF is in Washington DC, USA. It has 184 members. It is affiliated to the UNO. The highest authority of the IMF is the Board of
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
what is budget line?show the shift in the budget line
how to calculate it given a functuion
User Cost of Capital = Economic Depreciation + (Interest Rate)(Value of Capital) - Example An Airline buys Boeing 737 for $150 million with the expected life of 30
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