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for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
How do I do I use affsolve?
Suppose Dlamini has R5 000 to spend on trousers and shirts. The price of trousers is R500 each and that of shirts is R312.50 each. 6.1 Use the information and calculate consumer eq
explaination of quasi rent theory
(1) The demand curve for oranges is given by the equation P = 5 – Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars p
limitation of kaldor hicks in compensation test and welfare criteria
Why Average Revenue= Marginal Revenue
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
Q=8000-800P
what is isoquant ?
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