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Double Jeopardy
A condition where an entrepreneur's main source of income and net worth depend on the entrepreneur's organization.
different types of production funtion and curve given by different economist
What actions could a government take in order to keep the price above market equilibrium? There are four basic possibilities here; 1) Minimum price; 2) A tax on the good
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
Identify the four essential economic activities. The four main economic activities are: a) resource maintenance, b) production, c) distribution, and d) consumpti
what do you understand by production posibility curve?
what is the assumption of the model ?
Why do demand curves generally slope downward? The demand curve slopes downward because in general, the higher the price of the good, the fewer people will need to buy it.
what is linear programming
why is choice inevitable in the understanding of economics science?
illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
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