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Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as it desires at the current mark
How might governments use buffer stocks to stabilise prices? Explain/outline a buffer stock scheme in brief as a method for government (in this case) to warehouse (stock) goods
Question: (a) Assume a firm operates in one location but serves on two distinct markets, namely, 1 and 2. The demand functions are: Market 1: P1 = 40 - 0.3 Q1 Market 2:
Assume that the market for lamb is perfectly competitive. Using an appropriate model (or models) illustrate and explain a. How a competitive market arrives at equilibrium
Q. Explain about Social-Democracy? Social-Democracy:It's a reformist political strategy that aims to win certain improvements in social and economic conditions under capitalism
determinants of demand and determinants of supply
brief explain of keynesian consumption theory
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
determination of rent
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