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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 needs to meet aggregate demand.
Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates
Theory of revenue
reason for kinked demand curve
Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost
I am having a hard time figuring out how to find marginal product.
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
What is International Trade Economics, Explain study area of international trade economics.
Define Average Total Cost and Average Variable Cost Average Total Cost: The amount spent on producing every unit of output. The average cost is calculated by dividing the t
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
is the industry of electric power on the large economies scale
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