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Income and Substitution Effects: Normal Good * The Special Case--The Giffen Good - The income effect may be large enough theoretically to cause the demand c
How is the wrong conclusion result in necessary condition not in the sufficient condition? This is often heard that the market institution must not be used based onto the fact
illustration for demand of big macs using indifference curve and budget line
discuss scarcity,choice and opportunity cost
1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l
how to find least cost combination of factor inputs given the production
what is basing point
Why some country saving less and consumption more?
using ? tools of economic highlight on comsumption
Gasoline Rationing - In the year 1974 and again in the year 1979, the government imposed price controls on gasoline. - This resulted in scarcity and gasoline was rationed.
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