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What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
Implications for the Role of Economic Theory : Like the schedule for the marginal efficiency of capital, expectations about the future market rate of interest underlie the li
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
critically analysis firm theory of profit maximization?
What are the properties of the profit function? Properties of the Profit Function: The properties specified below follow solely by the assumption of profit maximization. No
When the curve that envelops the sweries of possible short-run average total cost curves is horizontal, this means that they are a. economies of scale, b. dieconomies of scale, co
The act of production involves the transformation of inputs into output. Production is a transformation of physical inputs into physical inputs into physical output. The output is
The demand curve for gasoline is P = 200 - 10Q. a. Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price change
Suppose a family earns £1,500 per month and can either pay £0.50 per square foot in monthly rent for an apartment in the private rental market, or accept a 1,500 square foot house
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