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Resilience in Addition to Strength: The BOP has been in overall surplus since 1996-97 with forex reserves rising, on an average, by $8.50 billion per annum during 1996-97 to 2
Why does a monopoly have no supply curve? A supply curve is a curve that shows the quantity supplied at dissimilar prices, as a monopoly sets the price and the quantity togeth
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When does deadweight loss occur to society? Applying consumer and producer surplus the efficiency costs of a tax: A tax causes a deadweight loss to society, since less the g
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
Change in the price of a related good: Goods relate to each other in two ways. Goods are either complements or substitutes. Complementary goods are goods with joint demand. The
TRADE AND ECONOMIC GROWTH : Foreign trade has worked as an 'engine of growth' in the past (witness Great Britain in the 19th century and Japan in the 20th, besides others), an
Economics and Ethics : Morality and ethics are powerful motivations to behavior. Thouh, economists suppose that rationality is a function of demonstrable self-interest. That mean
What is buget line how it is calculated?
Question : (a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost Average Revenue: P = 10 Average Co
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