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define real and nominal wages
is economics a positive science
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. What would answer be
why diminish MRS?
Assuming the Heckscher-Ohlin model is true. Suppose the Cuba and Russia sign a free trade agreement. Furthermore, assume the Cuba and Russia only produce cigars and vodka. Russia h
Problem: (a) Why is an error term added to a regression and explain its importance in the OLS procedure? (b) Suppose we have a linear equation with a constant term, one expl
how slustky equation provides neat analytical expression for substitution and income effect?
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w
In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
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