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what is rational decision and why it requires one''s choices be consistent with one''s goals?
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
Cost in the Long Run Cost minimization with the Varying Output Levels -A firm's expansion path shows minimum cost combinations of labor and capital at each level of output.
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
What does economic theory contribute to managerial economics? Explain
What is Co-ordination Number? A Co-ordination Number is the total number of ligands which are attached to the central metal atom by co-ordinate bonds or number of atoms of a liga
to what extent are interest rates determined by the economic theory
Expenditure Trends and Pattern: Total expenditure of the Centre has risen twice as fast as total revenue, although much of this reflects rising interest payments. Revenue expe
arguments in favour and against of Theory of Profit Maximization
Neoclassical economics is dominant approach to economics currently taught and practiced in most of the world (and particularly dominant in Anglo-Saxon countries). It attempts to ex
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