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How can we identify that something is elastic or inelastic?
When demand of any commodity does not change with the change in price of that commodity that item is said by inelastic. When demand of any commodity alters with the change in price of that commodity that item is said by elastic.
Balancing Needs and Resources planning is a balancing act. It involves the balancing of needs with resources towards set goals. Likewise, educational planning involves the bal
What is Economic Depreciation?
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma
Calculate Marginal Revenue
The price at which output is sold in a perfectly competitive market is determined by
What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t
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