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b) Sally’s firm produces granola bars with a fixed cost of 10 (this cost is already sunk). Her variable cost function is VC = q2 + 2q. Assuming the market for granola bars is comp
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
#question.describing risk,preference towards risk, the demand for risky assest.
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence
PLEASE GIVE ANY ONE TOPIC OF ECONOMIC WITH ANSWERS
Outline four limitation of game theory?
2. Suppose the price of printing paper for digital cameras has recently risen by 10 percent due to an increase in the cost of materials used in the finish for the paper. As a resu
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
What is indifference curve and its properties?
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