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Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost
discuss the revealed preference theory of consumer behaviour
The Market Mechanism Features of the equilibrium or market clearing price: – QD = QS – No shortage or scarcity – No extra supply price. – No pressure on th
explain 6 factors that determine volume of production
what is the theory of second best? prove the theorem with the help of a diagram.
#question.what is elasticity of demand? .
Why do actinides exhibit o.s equal to the sum of the valence electrons.
diffence b/n fixed and variable input
(a) Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b) The competitive equilibrium is the only allocation where the gain
Uses of Balance of payments account: It removes the uncertainty associated with the flexible exchange rate regime and brings stability. It also indirectly imposes some anti inf
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