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Is economics an art or a science

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Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore

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Demand, factors influencing the conditions of demand for a given product

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What is derived demand, The demand for every productive resources is a deri...

The demand for every productive resources is a derived demand.  By derived demand it is meant that it is the output of the resource and not the resource itself for which is a deman

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