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what is the second best?prove the theorem with the help of a diagram?
if the marginal production of labor is rising, is the marginal cost of production rising or falling? Briefly explain
what is direct utility in micro economics?
Assume that John has the following preference relation over two goods, bread and bear (x1, x2). He strictly prefers any bundle x over y whenever x haves more bear than y, whatever
how might opportunity cost help to explain the pattern of international trade?
How would the price mechanism decide resource allocation in a competitive (free) market? The main issue it to explain how the price mechanism has a signalling, rationing and ince
supply and demand
The table shows the demand schedule of Taylor Swift’s concert ticket. Draw the demand curve for her concert ticket
Measure Inflation : There are two common methods of measuring inflation: (i) percentage change in price index numbers (PIN) , and (ii) change in GNP deflator. The tw
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