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What are Less Developed Countries (LDCs)?
Less Developed Countries:
Developing countries are frequently considered to as less developed countries. The World Bank categorizes all countries into the low or middle income group (that is GNP per capita of less than 6,000 dollar) like LDCs.
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
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what is price expectation elasticity of demand?
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