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Uses of national income statistics:
- It helps to organize economic data and activities.- It helps to classify economic activities into various segments or sectors.- It helps to keep track of total production within the macro economy.- It helps to determine the economic performance of a country.- It helps in policy formulation and implementation etc.
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
"If for a certain market, the concentration ratio CR4 (the combined market share of the 4 largest firms) is 1, its Herfindahl index is at least 0.25." Describe the given statement.
explain optimal use of variable input?
explain graphically Equilibrium of a multi product firm
how can we bring in the marginal propensity to consume
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What is Economics? Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we h
Price | Quantity demanded _________________________ 0 250 50 200 100 150 150 100 200 50 250 0 A) Calculate Lorie''s profit-maximizing output, price, and economic profit. B) Do yo
Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co
How does the production possibilietes curve relate to present day economics?
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