General Equilibrlum Analysis

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General Equilibrium Analysis However, looking from this angle, it would be committing a logical fallacy to say that the prodWi prices are determined first and then conveyed to thl consumers who thereafter make their optimum quantity adjustments. Similarly, it would be erroneous to say that the consumers first determine the quantities they wish to purchase and the market prices are decided only afterwards. This […]

Applicability

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Applicability There arc two types of problems that the partial equilibrium analysis can deal with. In the first category rail those problems which pertain specific facets of economic behavior or certain individual.  or industry. Such a case may indeed be the market 1’01’ a single product and that market alone is  into account, while others to be constant. In the […]

Meaning of Equilibrium

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Meaning of Equilibrium The term ‘equilibrium’ has often to be used in economic analysis. In fact. Modern Economics is sometimes called equilibrium analysis. Equilibrium means a state of baobab. When forces acting in opposite directions arc exactly equal. the object on which they arc act~ is said to be ill a state of equine sum. Tic a cord to […]