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Explain the micro and macro economic issues that can be represented on the PPC
For the purposes of economic analysis, a normal profit contains the cost of the lost opportunity of the next best option allocation of the firms resources. In a purely competitive
With current technology, suppose a firm is producing 400 loaves of bread daily. Assume that the least cost combination of resources in producing those loaves is $180 ( 5 units of
if the marginal production of labor is rising, is the marginal cost of production rising or falling? Briefly explain
Q. Defien Hyper - Inflation? Hyper-Inflation:It's a situation of extremely rapid inflation (reaching 100% per year or more), frequently resulting from a condition of political
This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe
Plot the demand schedule and draw the demand curve for the data given for Marijuana
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
derivation of demand funcation using indifferance curv ordelreay and competed demand curv
Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i
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