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why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
What is Economics? Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we h
different types of production funtion and curve given by different economist
subsitution effect dominate tha income effect in which good case?
Is it possible for a firm to be both Price taker and price maker? A firm can either be a price taker or a price maker. It cannot be price maker and price taker at the similar
explain about rent theory
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
What is the distinguishes a progressive income tax, from a proportional income tax, or a regressive income tax? A proportional income tax takes the similar percentage of a pe
typical assumptions
demand for risky assets
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