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A local airline charges $500 to fly (round-trip) to Louisville, Kentucky. From the past three months, whereas the $500 fare has been in effect every of the two daily flights have a
Define Disposable Incomeand dumping Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera
what is diversification
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
Sources of Economic growth: Human resources: Investment in human capital is considered as an important factor for economic growth. This is done by increasing the quality of
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
Reducing Risk Three methods consumers attempt to reduce the risk are: 1) Diversification 2) Insurance 3) Collecting more information
what is market economy and how it solve the central problem
types of cost
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