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Inflation is a sustained increase in the price level. That is, the percentage increase in the price level over a period of time. Normally, we use the Consumer Price Index (CPI) as the indicator of inflati...
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Primary product dependency can be defined as the sole reliance on the exporting of commodities. Angola, for example, is largely dependent on the extraction and exporting of crude oil, with the oil sector ...
When marginal costs start to rise, starting at point C, due to diminishing returns, the average variable cost is still decreasing, at point X. The average variable cost will continue to decrease as long a...
Essentially there are several features of a market structure which determines why monopolies are able to profit maximise.Very small number of sellers in the given market, In a pure monopoly there is...
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