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Labor Total Output 1 30 2 50 3 60 4 75 5 80 a) If the price of the firm’s output is $12 per unit and the wage rate is $100 per worker, how many workers should the firm choose to
Q. Describe about Capitalism? Capitalism: An economic system in that privately-owned businesses and companies undertake most economic activity (with the goal of generating priv
Development plan: A Development Plan is a document which contains a policy framework and programme of development for a time period for a country. It sets out the general meas
consumer surplus fot tea
a) Joan's utility function can roughly be estimated as : U = 60Q 1 3/4 Q 2 2/3 She chooses from two composite commodities Q 1 and Q 2 whose prices per unit are kshs 20
Consider the following information relating to the pulp market. Demand Supply Output(tonnes/ da
what is the theory of Second best? Prove the theorem with the help of a diagram.
determinate equilibrium price and quantity. if Qd=7-1/2p AND Qs=1/4P-1/2
what is the law of diminishing marginal product? explanation with the help of proper schedule and diagram.
What is law of combination
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