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Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?
concept of innovation theory of profit and criticism
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Suppose that Congress increases the minimum wage to $10 an hour. a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
Determinants of quantity supplied of a good The quantity of supplied of a product is influenced by factors such as the market price of the commodity, prices of inputs, techno
note for assignment
Dividend The distribution of an organizations earnings to its owners-the stockholders. Cash dividends are most ordinary, although partition can be issued in other forms, such
what is the assumption of the model ?
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