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9. The average supernormal profit for the firm is
the general characterictics of economic models,its limitations and verification
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
Ask qIf the supply and demand curves for labor are represented by the following equations: Wd= -- (1/100)Ld + 30 Ws= (1/200)Ls Ws=Wd Ld=Ld a. Graph the results and show the equili
Problem: i) What do you meant by the term ‘economic efficiency'? ii) By using appropriate examples differentiate between fixed and variable costs. iii) Consider different
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
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Relatiön between TC ,TFC and TVC
Smoking cigarettes is a leading cause of many diseases
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