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Economies and Diseconomies of Scale -Economies of Scale Increase in the output is greater than increase in the inputs. -Diseconomies of Scale Increase in the
how does pp curve solve the problem of how to produce, what yo produce, and when to produce?
ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re
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why does gap between the ATC curve and the AVC curve decreases as the level of output increases
discuss the revealed preference theory of consumer behaviour
a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this
What is buget line how it is calculated?
How does the BLS classify people who are "not in the labor force," and what people are often in this category? If an individual surveyed (that is, who is age 16 or over and no
how do minimum unit costs change with changes in fixed cost?
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