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Q. Discovery of new technical know-how?
Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firms may be able to use improved and better machinery that will increase the productivity of the firms and consequentlydecrease the cost of production.
Suppose you have estimated the following demand function for the product you sell: Q = 5 - 0.2P At what price will the demand for your product be unitary elastic? (Hint: B
Tomato Farm is selling tomatoes in a purely competitive market. Its output is 5000 bushels, which sell for $15 a bushel. At this level of output, the marginal cost is $15 bushel an
What are the limitations of managerial economics
AGGREGATE DEMAND This refers to the total planned or desired spending in the economy as a whole in a given period. It is made up of consumption demand by individuals, planned
You have opened your own word processing service. You have already bought a special computer needed for word processing and paid $5,000 for it. However, due to the cost changes in
#Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.question..
Difficulties in using fiscal policy There are several problems involved in implementing fiscal policy. They include: Theoretical problems Monetarists and the Keynesia
Q. Development of Skilled Labour - External Economies? As the industry grows training facilities for labour will increase. This helps development of skilled labour that would i
Arguments for Uneven Distribution of Income and Wealth The basic economic argument to justify large income inequality was the assumption that high personal and corporate income
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