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Why narrowness of definition of a commodity may influence price elasticity of demand
How have economists traditionally defined "economic growth," and how is that different from "living standards growth"? Economists have traditionally explained economic growth
1- Explain how a policy mix (like the one used in 1990s) could help reduced to eliminate the budget deficit without having an adverse effect on the output. Illustrate your answer
Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the
#question. what is the underlying reason for the law of increasing opportunity cost?
Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting
conditions of pareto optimality
what is direct utility in micro economics?
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
DISCUSS THE COMPENSATION PRINCIPLE OF KALDOR -HICKS
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