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what is meant by diminishing scale output
In the long run A. price and output levels are mutually dependent. B. the level of output depends on the price level. C. the level of output is independent of the price level.
What is the definition of opportunity cost?
The annual income from an apartment complex is $20,664. The annual expense is estimated to be $3,414. The apartment complex could be sold for $146,499 at the end of 10 years. If yo
Consider an economy with the following characteristics: i. The price-level is fixed ii. The economy is closed (Exports - Imports = 0) iii. Government spending (G) and Inve
explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
In the short run, the discrepancy between actual and expected price level causes changes in output and employment. But in the long run, if all other things remain constant, the hig
What is the development process? Development is measured through outcomes that are development occurs while key indicators of human well-being enhance. A reduction of poverty
A government subsidy to the producers of a product: A. reduces product supply. B. increases product demand C. increases product supply. D. reduces product demand.
Panzer is a U.S. company. It originated in the 1970s as a family-owned business that manufactures fine watches. The family continued to build the company by reinvesting profits in
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