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August 18, 2020August 18, 2020 / econ101help / Leave a Comment on

Midpoint formula The elasticity can be calculated using the midpoint formula: where is the initial quantity, is the new quantity,…

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Cobb-Douglas function

July 20, 2020July 21, 2020 / econ101help / Leave a Comment on Cobb-Douglas function

tThe Cobb-Douglas function is used to measure consumers preferences between different bundles of goods or how a firm can combine…

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Consumer, producer and total surplus

June 9, 2019June 13, 2019 / econ101help / Leave a Comment on Consumer, producer and total surplus

Producer surplus from supply scheduleCalculate producer surplus from supply curve Consumer and producer are both economic measures of welfare. Consumer…

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Macroeconomics, Uncategorized

Consumer Price Index (CPI) and inflation rate formula

June 6, 2019June 8, 2019 / econ101help / Leave a Comment on Consumer Price Index (CPI) and inflation rate formula

Consumer price index formulaCalculate CPI with one goodCalculate CPI with two goodsInflation rate formulaCalculate inflation rate with one goodCalculate inflation…

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Isoquant and isocost line

June 1, 2019June 7, 2019 / econ101help / Leave a Comment on Isoquant and isocost line

The isocost and isoquant line are used to determine the cost minimising level of output produced by a competitive firm.…

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