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different types of production funtion and curve given by different economist
Banks: A company which accepts deposits and issues new loans. It makes profit by charging more interest for loans than it pays on deposits, and through several service charges. By
Define why prices is significant for economy Reason for using different weights is that some prices are more significant than others for economy. Price of gasoline, for instanc
the difference between an lc3 and other types of businesses is that
traditional theory of cost
why we study micro econmics?
discuss how the price mechanism allocate resources in a free market system
"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
Economies of Common Services: Through the concentration of firms in a particular industry in a given geographical location, the firms may enjoy certain commonservices.These
Business sell to households in the resource markets, but households sell to businesses in the product market
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