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Explain how the price system eliminates a surplus. The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pr
what is walrasion equilbrium
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.
Q. Define government surplus? Surplus, Government:It's a government surplus exists when a government's tax revenues surpasses its total spending (including both program spendin
WHAT IA GMP
THEORY OF COSUMER BEHAVIOUR: BASIC THEMES: We elaborated two classical theories (viz. Cardinal Approach and Ordinal Approach). In ordinal approach discussing the indifference
what are the uncontrolled variables you think may affect the segment of your camera
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
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