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What are economies of scale and diseconomies of scale? In economics, returns to scale and economies of scale are terms that are related and sometimes incorrectly used intercha
Ask qdescribe average and marginal revenue under imperfect competitionuestion
Indifference Curves: Every consumption-leisure point, (l; c), in the diagram is associated with a unique level of utility. The line II represents the individuals indifference curv
Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
Consider 2 firms i=1,2 producing quantities q1 and q2 respectively. Let the market price be given by P=a-b(q1+q2). Firm 1''s Marginal cost c is common knowledge but 2''s cost is no
What is an index number?compile a chart of the types of consumer price index numbers showing-the agency who prepares it,index formula,target group,groups of items covered and the w
Marginal Revenue, Marginal Cost & Profit Maximization * Determining profit maximizing level of output - Profit (π ) = Total Revenue - Total Cost - Total Revenue (R) = Pq
causes and effect of the unemployment
Q. What do you meant by Informal Economy? Informal Economy:Informal sector of the economy represents the production of services and goods for the own-use of the producers or fo
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