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1. Isoquants are negatively sloped because if the quantity of factor 1 used in production is decreased then the quantity of the other factor must be increased to produce the s
Determine the Business Cycle and Classical Economists Business Cycle: The business cycle is the fluctuations in the rate of economic growth that take place in the economy. Th
The very name of this market type suggests that it is a combination of the monopoly and competitive firms. The characteristics of such a market are: 1. There exists large n
define and explain theory of production?
what is comparative advantage
Q. Can you explain Cost benefit analysis? A term used to explain analysis, which seeks to quantify in money terms as many of the costs and benefits of a policy or project as po
Why total product continues to increase despite a decrease in the marginal product?
edge worth model
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
Which of the following statements is correct? a. Consumers have the ability to buy everything they desire. b. A consumer''s budget line shows the limits to what a consumer can buy.
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