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Consumer Preferences
Indifference curves represent all the combinations of market baskets which provide the same level of contentment to the person.
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
Input Substitution When the Input Price Change Isoquants and Isocosts and Production Function The minimum cost combination can be written as: - Minimum cost
WHAT ARE ROLE AND ASUMPTIONS OF ECONOMIC THEORIES
Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h
Critically examine recent developments in demand theoryon #Minimum 100 words accepted#
The enzymes are highly specific in nature. During enzymatic reaction the enzyme is so built that it binds to the substrate in a specific manner. The stepwise mechanism of enzyme ca
what is the relevance of microeconomic analysis in contemporary Nigerian economy
Ask quesQuestion 1. A firm has a production function given by Q = L1/2 K, where L is labour and K is capital. Draw and appropriately label at least three points on each of the isoq
concept of innovation theory of profit and criticism
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
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