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The income effect is the fact that as a person's income enhances (or the price of item goes down [which effectively enhances command over goods] more of everything will be demanded. The income effect suggest that as income goes down (price enhances) then less of the commodity will be purchased.
discuss how cross of demand is useful in categorizing commodities
Question 1: (a) The Mauritian government is now increasingly involving the private sector in the development of the economy. How can government support effective private secto
Development Banks Banks that function as coordinating and intermediary industries to raise capital attract investment, and giving technical assistance for the economic develop
explain the properties of indifference curve with the help of diagrams?
Problem 1: i) Is Protectionism always beneficial? Discuss. ii) To what extent can a country actually rely on the principle of Comparative advantage before engaging in in
A firm has two plants. One plant produces according to a cost function cl (91) = Yf. The other plant produces according to a cost function c2(y2) = Yg. The factor prices are fixed
what is economic model and role of assumptions in it.
what are the majotr sources of monopoly
how to solve for marginal revenue
Bilateral and Multilateral Contracts Bilateral contract is defined as to purchase & sell certain quantities of a commodity at the agreed upon prices may be entered into between the
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