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assingnment on production cost
MRTS and Marginal Productivity The change in output from change in labor equals: The change in output from change in capital equals
The role of trade union to improve the lot of the workers is also important when there prevails the conditions of Monopsonisitc discrimination is said to prevail when the monopsoni
Define Average Total Cost and Average Variable Cost Average Total Cost: The amount spent on producing every unit of output. The average cost is calculated by dividing the t
Problem 1: Any development strategy should put people first; indeed, its very effectiveness should be measured in terms of how it impacts the poor. (a) Describe the link bet
Problem: i) The inverse market demand curve for a Stackelberg leader and follower is given by P = 10 - Q. If each has a marginal cost of $4, what will be the equilibrium qu
Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc
what is the use of models in economics?
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True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
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