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Uses of price and income elasticity of demand: The concept of price elasticity of demand has some uses whihc include the following: (i) Pricing of goods and services It is
Oligopoly and its properties
EXCHANGE RATES: The current unit focuses on exchange rates and is a more in-depth study of foreign exchange markets from the perspective of financialeconomics.You have been ac
Suppose that Congress increases the minimum wage to $10 an hour. a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed
relation between production and consmption
Dynamic Changes in Costs: The Learning Curve * The learning curve measures impact of worker's experience on costs of production. * It describes relationship between a firm
Major air pollutants can be sub divided into 2 catexampleories: Inorganic gases and particular gases. (A) Inorganic gases 1. Carbon monoxide (CO) CO is a colourless, lethal gas
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
1. Suppose that there is a credit market imperfection because of asymmetric information. In the economy, there are N consumers. A fraction b of consumers consists of lenders, who e
FOREIGN TRADE: Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports
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