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1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl
Allocation Function The shifting or reallocation of production property into or out of markets based on shifts in prices for the products or services produced in that market.
Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between
economics of uncertainty with examples
what is linear programming
1. Clorox lowers the price of its GreenWorks TM bathroom cleaner. All other things remaining the same, choose how you think this will impact the market price of Pine-Sol. (Circl
what are the microeconomic encompasses
What is the marginal opportunity producing the first unit of paper? The marginal opportunity cost of producing the forth unit of paper?
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
explain marris model of the managerial enterprise
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