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Another view of the short-run cost structure is that fixed costs are those that must be paid whether the firm produces anything or not. Variable costs are called variable because they enhance or reduce with the level of production. Thus to understand short-run costs, you must first understand production.
Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a
illustrate and discuss the implications of various markets structures(competitive and non-competitive) for price dertimation
Time Value of Money The time value of money is the price or value placed on time. It is commonly thought of as the opportunity cost related with a particular investment. Money
Production without capital is hard for us even to imagine. Nature cannot furnish goods and materials to man unless he has the tools and machinery for mining farming forestry fishin
Point Elasticity: Point elasticity is brought in use when the change in price is quite small, which means. The two points between which elasticity is being measured or calculat
Determinants of the Income Elasticity of the Demand: The determinants of income elasticity of demand are given below: The Degree of necessity of the commodity.
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Smoking cigarettes is a leading cause of many diseases
Arbitrage Pricing Theor y Arbitrage defines the procedure of continuously buying a security for privacy, currency, or commodity on one market and selling it in another
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
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