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One reason is that the firm can gain from asset stripping economies of scale. An example of this is the merger of the two telecommunication firms T-Mobile and Orange in 2010. These firms can gain by selli...
The key assumptions under traditional economic theory are that economic agents are utility-maximisers and rational in their actions. Economic agents are assumed to have compared the costs and benefits of ...
Elasticity is just a technical term for "Sensitivity" so Price Elasticity of Demand (PED) simply measures how sensetive Demand is to a change in price. As demand changes can be measured in an...
To answer this question we firstly need to remind ourselves of the core components of Aggregate Demand (AD):
AD = C + I + G + (X-M)
AD is made up of Consumption, Inv...
The benefits foregone of the next best alternative.
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