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What is buget line how it is calculated?
national income and what is used to measure it
Diffrence between price and Income elasticity of demand: Own price elasticity of demand is the degree of responsiveness of the quantity demanded of a commodity to a change in
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
why does economist agree or disagree?
List two advantages of markets identified by the authors of the text. Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another b
what do you meant by rent?
what are the properties of cob-douglas production function
Really briefly, what are 2 methods of measuring external stability? In Australia generally.
Outline four limitation of game theory?
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