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(a) Increase in technology and productivity take effect in the red bull market use and label a graph to explain the result of this change on each of the following (i) Market Pri
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
pooling in insurance
Compare and contrast the different measures of revenue
The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
Calculate the number of moles in 15.8 grams of aluminum hydroxide
Measure Inflation : There are two common methods of measuring inflation: (i) percentage change in price index numbers (PIN) , and (ii) change in GNP deflator. The tw
A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py. a. Derive the equ
1. Suppose we observe that the price of soyabeans goes up while the quantity of soyabeans sold goes up as well. Use the supply and demand curves to illustrate two possible explanat
Households: The fundamental unit of individual economic behaviour. Households offer labour supply to labour market, make consumer purchases,earn income (from employment and other s
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