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If there are economies of scope and if the price for each product equals marginal cost, is it possible for a firm to cover all its costs? If the firm's average cost of production declines the more it produces, can a price equal to marginal cost ever cover all its costs?
factors that causes the shifts in balance of payments
What is money wage rate While the money wage rate or nominal wage rate is the hourly wage rate calculated in money that a worker receives for supplying labour, the real wage r
what is the difference between classical and non-classical model
Should dental offices be accredited similar to the standards that hospitals are?
mention and explain four factors that determine the volume of production.
ABSOLUTE ADVANTANGE \
Consider a market where supply and demand are given by QXS = -12 + PX and QXd = 78 - 2PX. Suppose the government imposes a price floor of $35, and agrees to purchase any and all un
If there is an increase in the popularity of video games and more companies making video games, then the following is true? A) Sales of the games will be uncertain. B) Price will g
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
1. Kuhn - Tucker Conditions Max 2x + 3y s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0 2. Max (8 + x)(8 + y) s.t. pxX + pyY ≤ M. x ≥ 0, y ≥ 0 Utility function 3. U(x, y)
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