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Is it possible for a firm to experience a technological change that would increase the marginal product of labor while leaving the average product of labor unchanged?
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
Summary of Educational Planning and Economic Growth An economy with scarce resources and enormous needs and aspirations requires planning. This is true of the education sector
How are consequences of economists used? Economists generally use efficiency, information, equilibrium and incentive compatibility like focal points, and examine the consequenc
what is cob duglus production function?
Question: (a) Write down the Classical Linear Regression Model (CLRM) and explain its assumptions in detail. (b) The following data relating to information collected on
Choosing Inputs How to minimize cost for the given level of output. We can do so by combining Isocosts with Isoquants Producing a
Island Economy: Consider an economy as a sea with islands of local markets. Each household produces goods and sells them on one and only one of the arrays of these markets. Go
With the recession, average incomes have fallen from $44,375 to $41,720. Before the recession Groucho's Gizmos sold 600 gizmos a month. As an economics, predict the number of gizm
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