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fig2.3 elaplanition of sales maximisation
a) Examine at least three (3) possible areas for the industry that could lead to transaction costs, and describe each in detail. b) Speculate about the behaviour that could
Igora''s pizzeria want to know if it should stay open this spring. Total Revenue will be $ 12,000 per week and Total Cost will be $ 18,000 per week. The fixed cost of running the b
Change in the price of a related good: Goods relate to each other in two ways. Goods are either complements or substitutes. Complementary goods are goods with joint demand. The
What are the uses of elasticity to the private sector
The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among pric
Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government
Q. What is Exchange Rate? Exchange Rate: The ‘price' at which currency of one country can be converted into the currency of another country. A country's currency is ‘strong,'or
#question. what is the underlying reason for the law of increasing opportunity cost?
What is the theory of absolute and comparative advantage?
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