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Homogeneous goods, Firms are price takers, An infinite number of suppliers and producers, Firms are profit maximisers, There are no barriers to entry, Producers have perfect information

Explain Utility - satisfaction from consuming good
Indifference curve- shows all combination of 2 goods which give consumer equal utilityDraw Indifference curve with examples.- explains why consumer...

A decrease in interest rate results in an increase in demand for real money balances, which accelerates spending, as well making investment desirable that further increases the output. This can be demonst...

In Economics, externalities occur when producing or consuming a good/service causes an impact on third parties not directly related to the transaction. These impacts can be both positive or negative. Grap...