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How is microeconomics differed from macroeconomics?
Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For example, how much this would cost for a university or college to give a new course? (Involving the cost of the instructor’s salary, the classroom services and the class materials, and many more). Having found about the cost, the school can after that decides whether to offer the course.
Individual Assignment ECO101 - PRINCIPLES OF ECONOMICS electronic submission via Moodle 6 Questions 100 marks (15% of total course) All questions should be attempted. 30-50 w
#question.what is elasticity of demand? .
Explain the factors which would affect the price of a good. As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shif
You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed
PRODUCTION AND PRODUCTIVITY DIAGRAM BEHAVIORAL RELATIONSHIP
what is bains theory ? describe with the diagram
Implications for the Role of Economic Theory : Like the schedule for the marginal efficiency of capital, expectations about the future market rate of interest underlie the li
1. Explain how absolute advantage and comparative advantage differ? 2. Give an example in which a person has an absolute advantage in doing some thing but another pers
dicuss the relevance of studing production theory and analysis inn your career as a student of manegerial economics
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