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how to find least cost combination of factor inputs given the production
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What is endothermic reaction? 3. Draw a generalised energy graph for an endothermic reaction.
A firm in a perfectly competitive product market takes the price of the product as given. Similarly, a firm in a perfectly competitive factor market takes the price of the factor
what is stagnation thesis?
The Supply Curve – The supply curve exhibits how much of a good manufacturerss are willing to sell at a particular given price, holding constant other factors that can aff
The prevention of major swings in economic activity can be handled most easily by the
conditions for an abnormal supply curve
Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th
What are the economic and social costs of high inflation levels? High inflation will have serious redistribution costs; make distortions to the economy; decrease international
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