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What are the general principles about marginal and average total cost curves?
General principles which are always true concerning a firm’s marginal and average total cost curves as follows:
a. Average total cost is equal to marginal cost at the minimum-cost output.
b. Marginal cost is less than average total cost and average total cost are falling at output less than the minimum-cost output.
c. And marginal cost is greater than average total cost and average total cost is increasing at output greater than the minimum-cost output.
The consumption function of an economy is given by c = 200+0.75(y-t) And the investment function by I = 200 = - 25r. Government purchases G and taxes Τ are both 100. T
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Such analysis permits the firm to determine at what level of operations it will break even (earn zero profit) and to discover the relationship among volume, costs, and profits. It
Suppose that several months of data showed the CPI increasing at a 4.5% annual rate due largely to increases in the price of energy and food related commodities following several y
Question 3 (44 marks) Please note that this question requires substantial research. A summary from the text book is not sufficient. To score well you will have to consult several a
Imagine Adam Smith living in today's economic climate. Describe what current economic issues about which he might be most concerned with and state why?
what is the basis of fixation
is there a graph for says law?
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which turning point marks the end of an economic prosperity and the start pf contraction
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