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Explain the production function and discuss why it is important? Explain diminishing returns to an input and give an example? Discuss why a firm's cost curve might be different in
Question 1: (a) What are the characteristics of market and command economies? (b) In a number of countries in recent years, there has been a movement towards a greater rel
Define elasticity of supply. What factors influence Elasticity of Supply? There is only one type of identifiable elasticity of supply measuring the responsiveness of market sup
c=100+0.8yd
benefit of GDP
What is gross national income per capita The absolute difference in gross national income per capita is 29,828 PPP$ that means UK income per capita is approximately 860% higher
Employ the weights given below and suppose that 2002 is the base year with a CPI equal to 100. Suppose also that since 2002 the price of food has increased by 10 percent; the price
what are its effects on the Indian economy? Ans) It is largely positive. Globalization has brought a lot of jobs and large sums of investment to India. India's economy has been
Consider a market for fish whose market demand and market supply for fish are specified as Qd = 300 - 2.5 P and Qs = - 20 + 1.5 P respectively. The government decides to impose a p
Members of the Organization for Economic Cooperation and Development are: 20 countries formerly signed the Convention on the Organization for Economic Co-operation and Develop
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