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What is opportunity cost? Answer: Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that co
ahmed has 500 dolars.asma has 700 dolars.cismaan has 800 dolar
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Diversification - Assume that a firm has a choice of selling air conditioners, heaters, or both of them. - The probability of it being hot or cold is 5%. - The firm woul
plot the demand schedule and draw the demand curve for the data given for marijuana in the case above
Production having Two Outputs -Economies of Scope * Economies of scope exist when joint output of a single firm is greater than the output which could be achieved by two diffe
describe scitovosky''s double criterion
(i). A firm's costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6. (ii). The following are est
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
i''m">http://papers.xtremepapers.com/CIE/Cambridge%20International%20A%20and%20AS%20Level/Economics%20%289708%29/9708_w07_qp_1.pdf i''m finding question 13 difficult to comprehen
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