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DETERMINATION OF EXCHANGE RATES: When we study the determinants of exchange rates, we must distinguish between long run determinants and short run because the determinants in
What is opportunity cost? Answer: Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that co
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
a curve on a graph shows the relationship between apartment rent in a town and the quantitiy of apartments that people want at each rent. A new industry enters the town and the pop
what is profit maximization..
State the example of price and price level Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level -
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
explain how a perfact market responds to changes in consumer demand?
risk describe,prefrence towards risk,the demand for risky assets.consumer behaviour under asymmetricinformation
calculate point elasticity of demand function Q=10-2p for decrease in price from Rs3 to Rs2
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