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Yao''s weekly demand for basketballs is given by Qd = 3-P^2 where P is the price of basketballs. At the current price, Yao''s demand for basketballs is unit elastic. What is the cu
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produc
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc
demand for risky assets
implication tructures of various market structures for price determination
typical assumptions
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
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