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A trend line can be fitted through a series graphically. Old values of sales for different areas are plotted on a graph and a free hand curve is drawn passing through as many points as possible. The direction of this free hand curve shows the trend. The main draw bask of this methods is that it may show the trend but not measure it.
Why does a monopoly have no supply curve? A supply curve is a curve that shows the quantity supplied at dissimilar prices, as a monopoly sets the price and the quantity togeth
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
Revenue and Profit Maximization: Whenever a good is produced, the individual firm which has produced incurs costs which are are referred to as private costs and the society in
different types of production funtion and curve given by different economist
Summary of Educational Planning and Economic Growth An economy with scarce resources and enormous needs and aspirations requires planning. This is true of the education sector
How to solve questions of endowments?
There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to
In an updated GDP that contains household production, how would the purchase of a car or appliance for household use be treated? A car or appliance would be treated as a househ
observations and result
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
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