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what are the practical importance of income elasticity of demand?
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
what is indifference curve''s theory and application
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In the context of managerial economics how do you explain a rational producer. Illustrate giving example covering different dimention.
You are the final voter in a brand new start-up league, the Ultra Fun Foosball League (UFFL). The directors are looking to you to make the decisions on how many teams to place in a
Visit to a village panchayat for agriculture based project
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py. a. Derive the equ
Carbon Tax: An environmental tax that is imposed on products that utilize carbon-based materials and thus contribute to greenhouse gas pollution (comprisinggas, oil, coal and other
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