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What is Modern Economics?
Modern Economics:
Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as economic phenomena through a scientific studying technique – observation → theory → observation and by the use of different analytical approaches.
how to define or interpret ppc curve
explain normal profits and abnormal profits
How does planning serve as a solution to economic problems?
could a nations production possibilities curve ever shift inward
What do you mean by the utility function? The Utility Function: Sometimes this is easier to work directly along with the preference relation and its connected sets. Althou
What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):
cars:0,2,4,6,8 tow truck:30,27,21,12,0
according to Tobin 1993,examples of Keynesian unemployment includes situation where
Why Average Revenue= Marginal Revenue
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