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Why does the demand curve slope downwards? As Figure above demonstrates, demand curve slopes downward to the right. Downward slope of the demand curve reads the law of demand i
Refer to above figure. Albania refused to engage in international trade for ideological reasons. To maximize its economic welfare it would choose to produce at which point in the d
Q. Characteristics of perfect competition market? Following are the characteristics of perfect competition market: • Large Number of Sellers andBuyers: As there are a lar
Real Vs Nominal GNP: "Deflating" by a price Index One of the problems that confront economists when measuring GNP is that they have to use money as the measuring rod. Thes
#question.meaning of isoquants and its types
Another vital relationship that is often referred to in economic analysis is the relationship between consumption expenditure andprice elasticity. From the law of demand, we know t
law of demand
Using the CD data estimate a quadratic cost function. Test the hypothesis that there is diminishing marginal cost. Be sure to state what critical value you are using. Then, using t
(Only for extra credit) Consider Freddy on a rainy Thursday afternoon after losing in his favorite video game. His friend Tommy comes over to cheer him up and offers him the follow
How will you influence people to strive willingly for group objective in your organization (target based industry)? Apply your interpersonal influence through communication process
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