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Sources of Divergence The principal cause of extraordinary variation in output per worker between countries today are differences in their corresponding steady-state capital-ou
RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
using the tools of an indifference curve and isoquent, highlight on consumption and production in business economics.
Iso-quant: The dots in the above Figure denotes the various combinations of (L, K) that the producer can pick up from form to produce. Among these combinations, there can be t
A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
Gross Domestic Product and Growth Rates: The rate of growth of the secondary and tertiary sectors has been more than double that of the primary sector, with the secondary sect
Ask qI run a company that makes household power plants that use microeconomic textbooks to generate enough electricity each day for one house. Since there are a lot of used microec
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
Q. Define Regressive Tax? Regressive Tax: A tax in that lower-income individuals or households bear a proportionately greater burden of the tax. Sales taxes aretypically consid
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