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Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
the price elasticity for gizmos is known to be 1, if sellers of gizmos increase their
Revise business plans to incorporate appropriate changes.
what is aridge line and significance in economics.
how has the haberlers theory of opportunity cost an improvement over the classical theory of trade
What is consumer surplus? What is its significance and what causes it to change?
GDP Price Level At the equilibrium level of income aggregate spending in the economy equals aggregate output. All along, we have assumed that the general price level remains un
Question 1: (a) Using examples, explain the difference between time-series, cross-sectional, and panel data. (b) Formulate a simple linear equation, and carefully explain
objective of afirm
please can you explainn what "down 0.1 percentage point on the quarter means"?
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