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IMPLEMENTATION OF ECONOMIC POLICIES: Innumerable studies are available to document these failures of policy and planning. However, there are vast differences of opinion conce
The reason that an entrepreneur supposes the risk of starting a business is to earn profits. The fundamental assumption in the theory of production is that a rational owner of a b
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class
Law of conservation of mass was proposed by Lavoisier & verified by Landolt. According to Law of conservation of mass law Matter is neither created nor destroyed in the course of c
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
Assume the United States exports 1000 computers at a price of $3000 each and imports 15 UK autos at a price of 10000 pounds each. Assume that the dollar/pound exchange rate is $2 p
I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
Managerial Economies: These are many managerial economies associated with large-scale production. A large firm is in the position to employ more highly qualified and speciali
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
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