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note for assignment
marginal utility is applied on money or not
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
is south africa''s economic system now more allocative efficient
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
The benefits of increased openness in trade. Narrowly defined, trade openness is lowering trade barriers - facilitating increased imports - whereas focusing on international ex
negative slope on ppf represents what?
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
Three factors that determine demand for coffee and tea
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