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Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
relation between production and consmption
Why total product continues to increase despite a decrease in the marginal product?
if tc is 200 what will be marginal cost?
Assume that John has the following preference relation over two goods, bread and bear (x1, x2). He strictly prefers any bundle x over y whenever x haves more bear than y, whatever
Define structural isomers and its types Coordination compounds that having same compositions but the different bonding attachments. Types of structural isomers Hydration isomers
Is economic development is based on goverment Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchis
suppose, as in the federal income tax code for the united states, that the representative consumer faces a wage income tax with a standard deduction. That is the representative con
How has the haberler''s theory of opportunity cost an improvement over the classical theory of trade
Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
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