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When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.
Problem 1: i) How might unemployment arise? ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy. iii) ‘'Inflation always
Theories and Models ?? Microeconomic Analysis – Theories are taken in use to describe the observed phenomena in terms of a set of essential rules and
What are the advantages and disadvantages of monopsony?
large firms charge the price which is higher than the small firms, contruct the diagram
what is market economy and how it solve the central problem
Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
The Productivity Growth Slowdown However in 1973 steady trend of climbing rates of productivity growth stopped cold. Between 1973 and 1995 measured growth in output per worker
Suppose scientists discover that eating soybeans prevents cancer and heart disease
suppose the production function is given as:X=b0Lb1Kb2,where b0=level of technology find marginal product of factors(MPL0and MPK) find factor intensity
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