A technological innovation allows the nation to more efficiently convert solar energy to electricity. What happens to PPF?

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A: In command economy all the production and allocation decisions are centralised.

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A: Gross Domestic Product (GDP) per capita depicts  a country's GDP divided by its total population.

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Q: If the price elasticity of demand for gasoline is 0.20: Group of answer choices the demand for…

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Q: Who answers the three key economic questions in a Market economic system? custom & tradition…

A: Market economic systems are based on the concept of free markets.

Q: company buys a machine for $17,000, which it agrees to pay for in six equal annual payments,…

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Q: Question 40 Suppose the elasticity of demand for watches is -0.60. If the price rises by 12% how…

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Q: Protection costs $338 and returns $507 after 6 years. What is the interest rate?

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Q: what are implications for sectoral balances under the heterodox/mmt and new classical approaches?

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.