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Let three numbers be a, b and c respectively a + b + c = 16 x 3 = 48 ….(i) b + c + 20 = 15 x 3 = 45 b + c = 45 – 20 = 25 …..(ii) By Subracting, equation (i) – (ii) a = 48 – 25 = 23
According to the graph on the right, the equilibrium price in the market before the tax is imposed is
Which method is used by Hicks to eliminate the income effect when price of a product is changed
Refer to the above table. Calculate th...
If elasticity is ‘e’, and price of the product is B, MR=?
Calculate Domestic Income: