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What is economics about?
Economics:
Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like consumers, firms and government agencies, create trade-off choices which allocate restricted resources with competing uses.
People’s desires are infinite, but resources are inadequate, thus individuals must make trade-offs. We require economics to study this basic conflict and how these trade-offs are best made.
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
In year one, suppose the federal government has no national debt and spends $100 billion, while raising only $50 billion in taxes. The U.S. Treasury will issue $ billion of governm
Problem 1: i) Distinguish between the different types of concentration measures. ii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising.
how can a consumer get maximum Equlbrim
Provide an economic explanation of what you have shown in your diagrams above. Discuss what happens to Iceland's (1) level of economic output, (2) employment, (3) real wage rate,
what do you mean by social welfare function
a 12 page project
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
advantages and disadvantages
Telecommunications industry in South Africa
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