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What are economies of scale and diseconomies of scale? In economics, returns to scale and economies of scale are terms that are related and sometimes incorrectly used intercha
regression line drawn as Y=c+1075x, when x was 2 and y was 239, given that y intercept was 11. calculate the residual
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
what to produce? how to produce? for whom to produce
Q. Market Income and Socialism? Market Income: A household's total pre-tax income obtained from its activities in formal economy, including salaries andwages, investment income
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
in economics what is cobb douglas theory?
a) The production function of certain firm is given as Q = 40 K 1/2 L 3/4 A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maxim
meaning, scope, nature
Air is one of the important constituent in the environment that is prone to pollution. Pollution of air refers to that part of atmosphere which is very nearest to the earth’s surf
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