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what is the theory of second best? prove the theorem with the help of a diagram.
characteristics of microeconomics
how to calculate it given a functuion
ROLE OF INFRASTRUCTURE IN THE ECONOMY: Economic Infrastructure produces services that directly facilitate and are basic to the carrying out of a wide variety of economic activ
Problem 1: i) Differentiate between the short and the long run. ii) How is production characterised the short run? Explain the fully using numerical and diagrammatic illustr
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
what are the factors causing oligopoly market?
What are the main weaknesses of using demand-side policies? Trade-off issues a) Growth and low unemployment often come with inflation b) Government stimulatory policies m
Define the production terminology in short. Production Technology: Production is the procedure of transforming inputs to outputs. Characteristically, inputs consist of labor
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
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