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a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s
What is Economic Theory? An economic theory that can be considered an axiomatic approach comprise a set of assumptions and circumstances, an analytical framework and explanatio
how is price and output equilibrium determined in Williamson''s model of managerial discretion?
Supply function given by equation QS = 3P - 50. Write an equation proposals if: a) Government introduces subsidies of 5 $ per unit; b) the government introduced subsidies of 15%
Determine the economic productivity level Up until 1500 as best we can tell there had been next to no growth in output per worker for the average human for millennia. Even in 1
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
what are the recommendations for effective economic planning?
CONSUMER CHOICE INVOLVING RISK: The traditional theory of consumer behaviour does not include an analysis of uncertain situation. Von Neumann and Morgenstern showed that under
what is le''chatliers principle?
What was the price index for 2008, 2009 and 2010?
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