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Ajax has the following short run cost curve when tc=800000-5000Q+100Q2
Total Cost (TC) This is the sum of fixed costs and variable costs i.e. TC = FC + VC.
price output determination under monopoly explain
Open Market Operations Open market operations is another traditional or quantitative weapon at the disposal of central bank to control the volume of aggregate bank credit in t
Consider an economy with two individuals. Individual 1 has (inverse) demand curve for a public good given by P1=60-2Q1, While individual 2 has (inverse) demand curve for the public
all theory
diagram of production function with one varaible
Problems of prices and Incomes policy i. Confrontation The imposition of the prices and incomes policy, voluntary or statutory, risks the possibility of confrontation w
State the types of demand elasticity Income Elasticity: Elasticity of demand with respect to change in consumer's income. Price Expectation Elasticity of Demand: Elast
Illustrate the application of economic theory to some business problems
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