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Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
I have 3 questions regarding the economics of potlatch, 1.) What is the economic purpose of potlatch? I don''t fully understand this question... I believe potlatch is a gift econ
Highlight the few heading of it
Type of total outlay
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above.
what do you meant by rent?
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
#1 explain with the aid of diagram the effect of an increase in demand for palm oil on the equilibrum position for palm kernel
Suppose Dlamini has R5 000 to spend on trousers and shirts. The price of trousers is R500 each and that of shirts is R312.50 each. 6.1 Use the information and calculate consumer eq
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