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In an industry with two firms, represent the outputs for these single product firms as q 1 and q 2 . The two firms decide to form a cartel and set their levels of output to maxim
Explain in detail the concept of PPC with suitable eg.
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
clarify the opportunity cost theory
factors that affects the volume of production
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
Given the cost function as C=0.3Q3 -2Q2 + 13Q + 25, find the supply function.uestion..
More details on mixed bundling
There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to
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