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What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w
Explain how consumers might benefit from the existence of monopolies. While the standard issue of monopolies having higher prices and lower output that competitive markets migh
diffence b/n fixed and variable input
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
What is Nancy’s lifetime income as a function of her level of schooling, S? 2. What is Nancy’s lifetime income if she gets no schooling? What is it if she goes to school for all 60
Question: (a) The market demand schedule and market supply schedule for firm H is as follows: Q D = 500 - 10P Q S = -100 + 6P Where Q D and Q S denotes quantity de
arguments in favour and against of Theory of Profit Maximization
consumer equilibrium by indiffrence curve approach
Over the course of modern American economic history there have been market failures, various social problems, and other complexities that have resulted in certain resource markets
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