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A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
question #Minimum 100 words accepted#History of cobweb theory
(Cost minimization) a) What are the expressions for the marginal product of every of the two inputs in producing credit hours? b) What is the expression for the marginal r
What is elasticity of supply
Balancing Needs and Resources planning is a balancing act. It involves the balancing of needs with resources towards set goals. Likewise, educational planning involves the bal
what is limitation of inherent
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
bains limit price
explain the following disadvantages of amalgamation. Complex nature
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