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Explain about the economies and diseconomies of scale.
Economies and Diseconomies of Scale:
a. There are economies of scale while long-run average total cost refuses as output rises.
b. There are diseconomies of scale while long-run average total cost rises as output rises.
c. There are constant returns to scale while long-run average total cost is constant as output raises.
A telemarketer makes six phone calls per hour and is able to make a sale on 30 percent of these contacts. During the next two hours, find: A) The probability of making exactly four
An effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room
If the reserve bank wants to pursue a contractionary policy, what should it do?
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A student is taking two courses, History and Math. The probability that the student will pass the history course is .60, and the probability of passing the math class is .70. The p
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What is ‘Third degree Discrimation
"Nearly all critics agree that consumers have the most benefits in a perfectly competitive market." Does the above statement apply to microeconomics or macroeconomics? Why? Think a
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