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What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter
how to estimate a regression model that tests for higher ability individuals get a greater return from schooling
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
REAL VERSUS NOMINAL PRICES • Nominal price is a complete or current dollar price of a good or service when it is sold. • Real price is the price related to a combined me
Problem : "The beliefs that free trade favors only the rich countries and that volatile capital markets hurt developing countries the most have led activists of many stripes
if the inverse demand curve is p = 120 - Q and the marginal cost is constant at 10, how does charging the monopoly optimum and the welfare of consumers, the monopoly, and society?
Suppose that the following equation characterizes the demand for primary education in a developing country X: Q = 100 – 2P Where Q is quantity demanded in years of schooling and
Processors of aseptically packaged juice-based beverages must adequately heat their product before packaging it in order to be sure that they have “killed” the microorganisms which
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