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The production function for a firm is expressed as follows: Q = 800K - K 2 +5KL - 7750L + 10,000 Where Q is quantity of units manufactured, K and L are units of capital and
1) The $787 billion stimulus package, "American Recovery and Reinvestment Act" passed in Winter 2009 contained a mix of tax rebates, tax credits and increases in various transfer p
#i need more light about it..
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa
sources of oligopory
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
Economics; Different Perspective ? Economics is the knowledge of the choices taken by people who are faced with scarcity. ? Scarcity is a condition
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. T
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