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Explain how diminishing returns differ from diminishing returns to scale. The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all facto
how advertisement affects the sales revenue of a firm ?
The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
Durability of the Commodity: With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, tele
Are markets the best way of solving the basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add
I have some Microeconomics problem need to be solve, three Long question and 10 multiple-choice. If I give you four hours can you finish.
The Hypothesis of Inflation-Unemployment Trade-off : This hypothesis about formation of expectations is therefore known as the hypothesis of adaptive expectations. The hypothes
Determine the Returns to Scale Use the following production function and budget constraint to answer the questions below. Q = L + K 1000 = 2L +
Member's Quota in IMF Quota represents the subscription by a member country to the capital fund of the IMF. Quotas are fixed for each country, taking into account such factor
Capital formation: Growth Economists believe that accumulation of capital is one main source of growth of an economy. Emphasis is given to the accumulation of more capital pe
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