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What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice
Explain why subsidies to domestic firms act as a trade barrier. A trade barrier is broadly explained as any market intervention whereby the ratio of price of exports to price o
what does it mean by a normal good ?
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Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commodi
What are the income and cross elasticities of demand? Why might they be useful? Explain.
what is traditional economy 2 features of traditional economy
Tom's pizza sells for $ 5.00 ea and serves an average of 425 customers per week. During a recent sale, Tom lowered the price to $ 4.00 per ea. Sales increased to 500 customers duri
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
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