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What are the basic analytical frameworks of modern economics?
The fundamental analytical framework of modern economics:
The fundamental analytical framework for an economic theory comprises five aspects or steps as follows:
a. Requirement of economic environments,
b. Imposition of behavioral assumptions,
c. Adoption of economic institutional arrangements,
d. Determination of equilibrium, and
e. Estimate of outcomes resulting through an undertaken institution.
Dynamic model
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
EMPLOYMENT AND UNEMPLOYMENT POLICY: Engagement of a person in any economic activity is central to the concept of identifying a worker. A worker is one who participates in any
1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl
opportunity cost
ExplainBainlimitpricetheory
What are the properties of the profit function? Properties of the Profit Function: The properties specified below follow solely by the assumption of profit maximization. No
Arbitrage pricing theory is between one of two influential economic theories of how assets are formed or priced in the financial markets and the other model is the capital asset pr
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