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discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
The market demand function of a firm is given by 4P + Q - 16 = 0 And the AC function takes the form AC = 4/Q + 2 - 0.3Q + 0.05Q 2 Find the Q which gives: (a) Maxim
define and explain the concept of social efficent production
How does the BLS classify people who are "not in the labor force," and what people are often in this category? If an individual surveyed (that is, who is age 16 or over and no
The accountants keep all the business transactions and records of a sole proprietorship separate from the business owner''s personal transactions and For legal purposes a sole prop
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
Health and Life Expectancy: In addition to struggling on low income, many people in the developing nations fight a constant battle against malnutrition, disease and ill healt
Estimating Occupational Structure of the Labour Force within Economic Sectors in the Target Year The total output in the economy, the sectoral shares therein and labour produc
how much for taking a test
"As long as consumers are willing to pay a positive price for a good, the larger is the quantity formed, the greater is the total surplus from trade." Explain this statement if i
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