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Q. Describe the gift exchange model of reciprocity? George Akerlof (1982) develops a gift exchange model of reciprocity in that employers offer wages unrelated to variations in
U.S. retail industry, Arc Elasticity is correctly used to assess the dollar magnitude of net benefits of a decision to raise price/output combinations by 5% in the short and medium
NATIONAL INCOME AND STANDARDS OF LIVING Standard of living refers to the quantity of goods and services enjoyed by a person. These goods may be provided publicly, such as in t
producer equllibrium
Drafting of Price Policy: Demand forecasts assist the management to prepare a few appropriate pricing systems, so that level of price doesn't fall and rise to a great extent at th
if Q=120-2p is the equation for demand curve, find the compounding total, marginal and average revenue function
KEYNESIAN AND NEW-KEYNESIAN THEORIES OF UNEMPLOYMENT AND THE BEHAVIOUR OF REAL WAGES As mentioned above, two phenomena about the labour market need to be explained:
LONG RUN EQUILIBRIUM FOR THE FIRM Since there is freedom of entry into the industry the surplus profits will attract new firms into the industry. As a result the supply of th
briefly explain oppurtunity cost in decision making?
Q. Explain the Game theory? Game theory: Game theory is a branch of applied mathematics which is used in the social sciences, most particularly in economics, as well as in b
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