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Why concept of Elasticity is important in economics?
Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole economy. . It can help us in lots of ways. For instance, for a firm the method of elasticity is important because it gives information that either the change in price is profitable or not. It also gives information about the good which is more profitable to make i.e. more inelastic the demand for the product, more profitable to produce that good. For a government, it is useful in the sense that it gives information about the commodity which is to be taxed and which is not to be taxed. It also gives significant implication for the balance of payment problem.
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explain the following disadvantages of amalgamation. Complex nature
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Lovers of classical music persuade Congress to impose a price ceiling of $40 per concert ticket.
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How to start Economics Introduction assignment?
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A Period of Transition and Improvement: These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an
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