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Q. Specify whether you agree or disagree with the subsequent statements. In brief explain your answer.
a. Increasing returns to scale refers to a situation where an increase in a firm's scale of production leads to higher cost every unit produced.
b. Constant returns to scale refers to a situation where an increase in a firm's scale of production has no effect on costs every unit produced.
c. Decreasing returns to scale refers to a situation where an increase in a firm's scale of production leads to lower costs every unit produced.
Human resources that perform the functions of organizing, managing also assembling the other factors of production
q1. during the purchasing decision evaluation stage the consumer forms preferences among the brands in the choice set.
compute the breackeven output quantities for each alternative. What is the difference between movements along IS and LM curves and shifts of the entire curves.
When the wage rate increases, individuals recognize that the opportunity cost of leisure has risen, choose to substitute labor for leisure, and thus offer to work more hours. This is called the
describe the amount of output produced by Stone Company. How much profit will Stone Company make when it acts as a monopolist.
What are the major institutional changes that take place with economic development? Are these institutional changes causes or mere correlations of growth? Or is growth a cause of institutional change?
If the Federal Reserve had maintained a constant money supply in the face of this change, what would have happened to the interest rate.
Explain the effect of the following events on the interest rate in the loanable funds market. Demonstrate you answer graphically.
What are the components of aggregate expenditure. What determines the slope of the aggregate expenditure line.
q1. did the economic recession weve experienced recently affect your organization? how could anything youve learned in
Illustrate what variables other than cost appear to have the biggest impact on the demand products
Ann Page Corporation has fixed expenses of $30,000 per year. Variable expenses per unit are $17. Sales price per unit is $30.
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