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identify any four other law of demand and give examples
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Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
why constant return to scale is important
Environmental economics goes back to the 19th century. Economists who research the planet are mainly worried with the idea of externalities, rare organic sources, and with the pro
the general characterictics of economic models,its limitations and verification
Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.
In this part, use the results for market demand for short-run and long run market supply of good x1 obtained in parts one and two. When a change (e.g. income or taxes) is introduce
Working of IFC: The IBRD loans are available only to member-country governments or with the guarantee of member-country governments. Further, IBRD can only make a loan but it
Explain how monetary and fiscal policies can be used to alleviate (= lessen) dissimilar types of inflation. Define monetary and fiscal policies and show how these policies mig
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