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What factors find out the price elasticity of demand?
Factors which determine the price elasticity of demand are:
a. Whether close substitutes are accessible
b. Whether the Good Is a essential or a Luxury
c. Time and space
Is it true that government revenues are increased because of lower tax rates? Ans) It is true to a point. The Laffer curve determines that revenues enhance as the tax rates rise
Q. Describe Wages and income? Remember that by wage we characteristically mean what you receive for working one hour, whereas income is the total revenue from all sources over
Consider the following utility function: U = X 1 X 2 Where X 1 and X 2 are quantities consumed of two goods. You are considering the actions of a consumer that maxi
What are the best criteria to select peers for a country ?
what is the meaning of the statement ''money is not merely a veil or wrapper''?
real gdp measures?
One of the main tenets of economic analysis is that people act in their own narrow interests. Why, then, do people leave tips in restaurants? If a study were to compare the size of
Based on the e-Activity, describe the dumping incident and how anti-dumping regulations could have been modified to prevent the incident you described.
what is the basis of fixation
The Concept of Taxation is explained below: Taxes are the general purpose, compulsory contributions by people to the public treasury (or national exchequer) to meet the expendi
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