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Below are the two estimated cost functions. describe what type of data was most likely used to estimate each one and why. Explain which is a short- run function, determine the leve
explain convergent and divergent system
Explain what economies of scale are and why they have become increasingly common in later years. Economies of scale - Enhance in fixed factors, but output enhances at a propo
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Calculate the enthalpy change for stepE. that is for the reaction: Na(s)+ water (arrow) Na(ion)+ OH(ion)+ Hydrogen (g)
List two advantages of markets identified by the authors of the text. Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another b
Capital Gain: A capital gain is a form of profit which is earned on an investment by re-selling an asset for more than it cost to buy. Assets that can be purchased for this purpose
Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways. • It provides flow of technology which al
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
What is black marketing? Black Marketing means hoarding of sure commodity to sell it at higher prices. But it is an illegal activity in the economy and makes artificial shorta
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