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Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
how do minimum unit costs change with changes in fixed cost?
What are the major differences between the equilibrium of profit maximiser and sales revenue maximiser?
opportunity cost
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
negative slope on ppf represents what?
Summarize the four supply factors in economic growth.
what are key elements in micro enviroment of red bull
Question : (a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost Average Revenue: P = 10 Average Co
Q. Perfect Competition in neoclassical economics? Perfect Competition: An abstract assumption, central to neoclassical economics, in that companies are so small that none can i
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