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define opportunity cost and how it is useful in managerial decision making?
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
if sabela can afford 4 trousers and 4 pairs of shoes.she could also use her entire budget to buy 8 trousers and 2 pairs of shoes.if the price of a trouser is 500 birr,how much is s
Purpose: this case is intended to model supply chain, especially the reverse logistic behaviour. Description: In Cal Poly Pomona, TOM301 (Operations Management) is a core cou
assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
1. Assume that Malaysia can produce cencaluk at 25 bottles per worker and belacan at RM5 per worker. Assume that Indonesia can produce 10 bottles of cencaluk per worker and 20 pack
Clearly explain the distinction between supply, demand and equilibrium price.
Q. Explain about Demand - Constrained? Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or s
JOINT DEMAND AND COMPETITIVE
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