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The sole producer of the anti-diarrhea drug STOP supplies two retail pharmacies in an isolated village. The two pharmacies compete à la Cournot in a market characterized by an inve
Money: Broadly speaking, money is anything which can be used as a means of payment (for instance, to settle a debt). It includes bank deposits, actual currency, credit cards and li
in the context of managerial economics how do you explain a rational producer.illustrate giving example.
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed
I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways. • It provides flow of technology which al
assingnment on production cost
why the PPC curve slopes downward?
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
Explain the factors influencing the value of PED and yED. PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closene
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