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1. Through graphs describe the relationship between the price, P , and the average total cost, ATC , for a firm in perfect competition when it earns an economic profit; earns a n
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
conditions for an abnormal supply curve
explain the concept economies/diseconomies of scale and minimum efficient scale
What would be a factor that would make the prospects hopeful for overcoming the demand for resources in the future
application of indifference curve analysis to the problem of exchange
explain the central problem of economy with production possibility curve?
Inflation-Unemployment Trade-off under Rational Expectations : Robert Lucas (1972) pointed out another implication of the above hypothesis of adaptive expectations. Suppose in
Taxes: Compulsory government levies collected to pay for public spending. There are numerous types of taxes (corporate, income, wealth, sales, environmentaland payroll taxes); each
sources of oligopory
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