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ECM101 – MICROECONOMIC POLICY ASSIGNMENT 1 General Guidelines: This assignment comprises two sections and you must answer all questions in each section. Answers must be explained
Explicit cost: Explicit costs are payments made by the firm when it purchases or hires factors of production for the production of goods and services. They are also referred t
You are the CFO for Carnival Corportaion and your boss, the CEO informs you that he wants to add three new cruise ships to the company''s inventory. Each ship will cost $500 millio
Pre-Funded Pension: A pension plan in that funds are invested and accumulated throughout an individual's working life in order to pay for subsequent disbursement of pension benefit
Illustrates the stages of the production of an economic conclusion? The production of an economic conclusion generally goes into three stages as follows: Stage 1: It is no
Monica consumes only goods A and B. Suppose that her marginal uility from consuming good A is equal to 1/Qa, and her marginal utility from consuming good B is 1/Qb. If the price of
Law of conservation of mass was proposed by Lavoisier & verified by Landolt. According to Law of conservation of mass law Matter is neither created nor destroyed in the course of c
Aggregate Supply When referred to in the circumstance of GNP or GDP, aggregate supply refers to the labor and capital needs to proceeds the level of products and services need
i when should continue to produce in the short run
explain the main criteria for classifying firms into industries.which criteria serve the better and why?
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