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1: Define and explain ‘Law of Diminishing Returns with the help of diagram. What are the different stages of production in the short run?
2: Define and explain ‘Price Discrimination (PD)’ with the help of diagram. Also give examples of Price Discrimination from the real world?
Part of a worker’s pay on an automobile assembly line is based on the number of cars in a pay period that come off the worker’s line and pass inspection. The remaining portion of the worker’s pay is an hourly wage that is fixed and only depends on th..
The average cost of production _______ if there are scale economies, and ________ if there are scale diseconomies.
If one draws MC curves pre and post innovation as well as the Marginal Revenue line for a monopoly and the MR in a competitive situation.
Consider these bundles: Bundle A: 2DVDs and 3 Cds; Bundle B: 3 DVDs and 1 CD; Bundle C: 1 DVDs and 3 CDs. Which of the following violates the assumption of non satiated preferences?
Suppose there are only 2 nations, Atlantis and Pacifica, and only two goods, surfboards and kayaks. If Atlantis produces only surfboards, it can make 50 per day. If Atlantis produces only kayaks, it can make 75 per day. If Pacifica produces only surf..
In what market type would you most prefer to manage a business? Explain why. What skills do you have that would allow you to be especially successful in this market type?
Because of the free-rider problem
q1. suppose bob considers borrowing 100 from sheila at a 10 percent interest rate. they both think that a 4 percent
what could affect every also a Discussion of why it is more accurate to examine both when trying to conclude a nation's economic success.
Explain whether transfer payments, such as Social Security and unemployment compensation, are counted as government spending in calculating GDP.
Explain how is the equilibrium level of national income determined in the Keynesian cross model? What are the major limitations of this model.
we dot know whether the total quantity of Internet ads will increase or decrease. Is the students analysis correct? Illustrate your answer with a demand and supply graph.
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