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firm''s product sells for Rs.200 per unit in a highly competitive market. The firm produces output using capital (which it rents at Rs.7500 per hour) and labor (which is paid a wag
When should a firm shut down production in the short run?
What is the difference between decreasing marginal returns and negative marginal returns?
What is the difference between 'Capital' and 'Capital value'? "The total amount of money or other resources owned or used to obtain future income or benefits." On the other h
Determinants of Social Demand - Economies of Scale The universe of knowledge is highly diverse. There are certain branches of knowledge whose value to human culture and civil
use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
(a) Explain why the Pareto criterion does not provide a complete ordering of the ordinal utility space (b) The competitive equilibrium is the only allocation where the gain
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
What is the theory of second best? Prove the theorem with the help of a diagram
1. Why is a proprietary good necessary for a firm to choose to become a multinational? 2. In Ramondo, Rappoport, and Ruhl (2011), "Horizontal vs. Vertical FDI: Revisiting Evi
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