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What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
What is the theory of Second Best? Prove the theorem with the help of a diagram.
duality was used in comparative static approach in assessing the direction of change on economic variables . Why do we need duality and under what condition may duality can''t be u
disadvantages of monopsony
Q. Show the Environmental Taxes? Environmental Taxes: Taxes which are imposed on particular activities, or particular products, which are considered to be especially damaging t
concept of narrowness in pure economics
Derivation of compensated demand curve: Hicksian compensated demand function for x 1 is given by x 1 =x 1 (p 1 , p 2 , U), where Hicksian compensated demand curve for a good
Ask questioThe difference between the present value of cash inflows and the present value of cash outflows over a period of time is termed as Net Present Value. This is used for th
ESTIMATION OF NATIONAL INCOME: In India, the first attempt to estimate national income and per capita income was made in the year 1867-68 by Shri Dadabhai Naoroji. This was fo
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
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