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What is absolute poverty and relative poverty?
Absolute poverty:
It is an income level below that essential to meet fundamental requirements. The UN measure of absolute poverty is one dollar per day.
Relative poverty:
It is households receiving less fifty percent of the average. For all the UK families receiving less than £12,000 pa is comparatively poor. The relatively poor do not have entrance to the range of goods and service consumed through average citizens resulting into social exclusion.
Describe the terms inflation, deflation, and inflation rate and price stability. Inflation and Deflation: a. An increasing aggregate price level is called as inflation.
Is telecommunication is elastic or inelastic ???
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MC=25+30Q-9Q^2 fixed cost=55 find total cost avarage cost variable cost
summary
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