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I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
Q. Central Planning of economic system? Central Planning: An economic system in that crucial decisions regarding consumption, investment, exchange rates, interest rates and pri
What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like
Division of labour: Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be
Impact of Economic Reforms on Labour: It would be of interest to study the industrial relations scenario in the pre-reform and post-reform period. Data provided in table 8.4 r
explain the concept of producers'' equilibrium
Find the highest interest rate: There are 2 entrepreneurs, Sally and Paul. The return to their projects are given by: To finance the project, each entrepreneur needs
#qu3. An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the informat
Explain the Human Development Index Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use
What are the properties of indirect utility function? Properties of the indirect utility function: While u(x) is continuous and monotonic onto R L + and (p, m) > 0, the in
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