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explain the difference between traditional theory and modern theory of cost
Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
The Tastee Bakery Company supplies a bakery product to many supermarkets in a metropolitan area. The company wishes to study the effect of shelf display height employed by the supe
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
Definition of Pareto Optimal Allocation
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
What are the types of demand
Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com
Inductive effect
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