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Q. What is Economic efficiency?
Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is that all resources will be put to their highest value uses.
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
The sales of a company are the part of the total sales of industry. If the conditions of industry changes then the sales of each of the firm in the industry is affected. All teh ti
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
Suppose scientists discover that eating soybeans prevents cancer and heart disease
What are the advantages of trade surplus
(i) Define the three types of price discrimination, clearly stating the different information requires of each type of discrimination. (ii) Find a real-world example of second-degr
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
Volume of Trade: It relates to the size of international transactions. Since a large number of commodities enter in international transactions and their aggregate can be found
what is the relationship between TP, MP and AP
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