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Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
The price of milk is usually much less expensive in a grocery store versus a convenience store. Using economic terminology, explain why people purchase milk at convenience stores.
Paradox of Thrift: An individual household, governmentor business may attempt to save money by reducing their current expenditures. Though those attempts to save, once amalgamated
Define the concept of cross elasticity of demand
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
study on internet will impact on gdp
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illustrate and explain the changing demand for big mac using the indifference curve and budget line
Frictional and Cyclical Unemployment: Frictional Unemployment: It refers to unemployment caused by changes in individual labour markets. This is the type of unemploymen
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
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