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State the example of price and price level
Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level - it would be a weighted average of prices of the goods sold that day and weights would be equal to number of every good sold. Perhaps basket contains 100 liters of regular milk though only one frozen cake. Price of regular milk will then have a weight of 100 whereas price of frozen cake wold have a weight of 1. Changes in price of milk will then have a greater influence on price level than changes in price of frozen cake.
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
Gibb''s energy In every chemical system, the substance moves in a direction in which there is a decrease in free energy, for example i.e. ?G is negative. G = H - TS where, G is
MUa/MUb how it happens? and why this occur?
A Period of Deterioration: The entire period was very difficult for India's BOP, partly because of slow growth of exports in relation to import requirements and partly because
Consider the following information relating to the pulp market. Demand Supply Output(tonnes/ da
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
ADMINISTRATIVE REFORMS - ECONOMIC POLICY: During the last few decades, phenomenal changes are taking place at a fast rate in the field of science and technology as well as in
Q. Define about Mutual Fund? Mutual Fund: A financial vehicle that involves pooling investments in the shares of many different joint stock (or publicly traded) companies, in o
Implicit in these analyses is the fact that without government we could have neither shortage nor surplus. In large calculates, the suspicion of government is due to it has the po
what is equilibrium
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