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Graphically illustrate how society decides on the number of police officers to hire
explain the fundamental task of economic system usin tomatoes as an example
Privatisation of the Economy: Privatisation has to be viewed in two ways: In a narrow sense, it implies the induction of private ownership in a public sector undertaking. In a
what are the sources of monopoly power
How to solve general equilibrium in pure exchange economy with 2 consumer and 3 commodities
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
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suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
law of diminishing marginal utility its assumptions, limitation, and its practical importance
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