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Explain what economies of scale are and why they have become increasingly common in later years. Economies of scale - Enhance in fixed factors, but output enhances at a propo
A firm has a short-run production function defined by: Q = -. 02L 2 + 8L What is the short run demand curve for labour (L) in terms of the market wage rate (w), if
consumer equilibrium by indiffrence curve approach
Changes in Market Equilibrium Equilibrium prices are known by the associate level of supply and demand. Supply and demand are decided by particular values of supply & demand
Types of unemployment: Frictional Unemployment: -It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from peop
WHAT IS OPPORTUNITY COST
explain the main criteria for classifying firms into industries.which criteria serve the better and why?
how to define or interpret ppc curve
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discuss how the price mechanism allocate resources in a free market system
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