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define stagflation
what is the indirect utility/
when average product is decreasing, marginal product is?
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like
The monetary calculate of the welfare associated with the change in the provision of some good. It is not to be confused with monetary value, unless the latter is explicitly desig
what are the variables to be included in the social welfare of a country?
Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi
INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves. Effect of Price
how do you find the average fixed costs using total fixed costs and total product?
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