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Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res
1. Implicit and explicit revenues minus implicit and explicit costs equals: A. accounting profit. B. economic profit. C. zero profit. D. implicit profit. 2. A business owner mak
assignment of demand thorey
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
What is a Market? Markets A geographically stated area where buyers and sellers interact or communicate to decide the price of a product or a series of products. Marke
What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut
Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o
Lending Operations of World Bank: Resources of the Bank consist of the capital and borrowings. The capital of the bank is contributed by its 184 member-countries. Besides,
characteristic of duopoly
what is the functions of commercial bank ..
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