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howw much should the firm produce to maximize its profits
Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach . This involves adding up
THE MONETARY ACCOUNT Also called official financing, this comprises the financial transactions of the government (handled by the central bank) needed to offset any net outflow
LONG RUN EQUILIBRIUM FOR THE FIRM Since there is freedom of entry into the industry the surplus profits will attract new firms into the industry. As a result the supply of th
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case.
Explain the role scarcity of resources plays in economics decision making
Q. Describe Rule based forecasting? Rule based forecasting: Rule-based forecasting (RBF) is a proficient method which incorporates judgment as well as statistical techniques
REALISM OF PERFECT COMPETITION The assumptions of perfect competition are obviously at variance with the conditions which actually exist in real world markets. Some market
Importance of Income Elasticity If a country is experiencing economic growth, the income of the people will increase. However, for those engaged in the production of goods wi
distinguish between industry demand and firm demand..
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