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Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic varia
causes for emergency of monopoly
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
how to differentiate the exeptional demand and exceptional supply?
Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"? The BEA made the switch from the constant-dollar metho
Differentiate between real and nominal variables. In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
Carmen, the Queen of Electra, is concerned over what she believes is an excessive consumption of electricity. Consequently, she proposes an excise tax on electricity consumption w
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
EOQ formula The EOQ equation assumes demand is constant and steady. It also assumes that demand for different items is independent. This is inappropriate for controlling inve
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