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LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
why is the concept of elasticity crucial to the study of economics?
What two important functions are performed by the price system? (1) The price system is an automatic method for distributing goods and services. (2) The price system defines t
how to calculate the volume of exports? or what is the definition?
How to determine the number of moles of butane by your number of moles of butane? using (PV=nRT)
What does economic theory contribute to managerial economics? Explain
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
please can you explainn what "down 0.1 percentage point on the quarter means"?
Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and
What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
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