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Describe what the price elasticity of demand is and why it is of interest in examining markets. Might it be beneficial in the airline industry? Why?
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
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contrast the longrun equilibrium positions of monopolistic competition firm and oligopoly
1) A) Suppose that several months of data showed the CPI increasing at a 4.5% annual rate due largely to increases in the price of energy and food related commodities following sev
Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence
"price makers" never want to produce in the inelastic part of their demand curve why
Does the curve represent if the risk is NOT taken and the line connecting two points on the curve represents if the risk IS taken?
please can you explainn what "down 0.1 percentage point on the quarter means"?
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