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why is normal rate of return on capital included in the total cost and what implication does it have
Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in
haberlers cost theory
why is the point outside the production possibility curve(PPC)called unttianable
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
compare marginal rate of technical substitution and marginal rate of substitution
assigment
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
Consider a decision faced by a cattle breeder. The breeder must decide how many cattle he should sell in the market each year and how many he should retain for breeding purposes.
what is the indirect utility/
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