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Consumer Behavior The description of how consumers allot their resources (income) to the purchase of various goods and services to get maximum in their well being. There a
what makes it differ from other market structures
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
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What is Cost Push Inflation Cost Push Inflation : When a cost of production (e.g. wages) enhances and firms put up prices to maintain profits. Cost increases may occur beca
Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
Why do demand curves generally slope downward? The demand curve slopes downward because in general, the higher the price of the good, the fewer people will need to buy it.
Question 1: A good internal transport network is a sine-qua-non condition for development. What are the problems of the transport sector? Question 2: ICT has a defin
Example of a cost function
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