Negative-positive coefficient in cross-elasticity of demand
When you compute cross-elasticity of demand, what are you trying to find out? What do a negative coefficient and a positive coefficient imply?
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You are trying to find out whether pair of goods is complements or substitutes. A negative coefficient implies a substitute when a positive coefficient implies a complementary good.
Relationship between MPS and multiplier:K=1/1-MPC = 1/MPS or inverse relationship between MPS and the size of multiplier.
Which of the given is NOT a condition for long-run equilibrium into a purely competitive market: (w) P = MC (x) MR = MC (y) P = LRAC (z) TFC = TC Can anybody suggest me the proper explanation for given problem rega
This needs to be identified that general abandonment of supposition of perfect competition, universal adoption of supposition of monopoly, need to have extremely destructive consequences for economic theory.”
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