Determine the profit function and profit maximizing value, Yuen, a travelli...

Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio

Competitive firm, The Competitive Firm - Price taker - Market ou...

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Explain and illustrate the concept of opportunity cost, Question 1: (a)...

Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry

Economic reforms and industrial growth, Economic Reforms and Industrial Gro...

Economic Reforms and Industrial Growth Economic reforms were mainly intended to remove obstacles so that investment in industry may be accelerated. With this end in view, indu

Cullusive Oligopoly, Definition and graph of centralized cartel

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Feudalism, A type of economy (like in Europe in the Middle Ages) which is p...

A type of economy (like in Europe in the Middle Ages) which is primarily agricultural however productive enough to support a class of merchants andartisans. Feudal societies are co

Macro economics, Static and dynamic multgipier

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Shutdown point, when does a buisness reach shutdown point

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Explain the main problems with government intervention, Question: i) Ex...

Question: i) Explain the main problems with government intervention. ii) Why and how do governments seek to control monopolies? iii) A country should specialise in the pr