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What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
impact of computer technology on nigerian economy
THEORY OF PRODUCTION: Production activities related to goods and services require inputs. Typically, the set of inputs includes labour, capital equipments and raw materials. T
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
how does pp curve solve the problem of how to produce, what yo produce, and when to produce?
How to use Demand and Supply tools to analyze the case of the Egyptian labor market?
Diversification - Assume that a firm has a choice of selling air conditioners, heaters, or both of them. - The probability of it being hot or cold is 5%. - The firm woul
Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on
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the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
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