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"Consider a market with n firms occupied in Bertrand competition. These firms have in common dissimilar marginal costs but any number of them may also have equivalent marginal cost
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
explain the traditional theory of cost with suitable diagrams.explain why LAC curve is not U shaped?
Halala is a small country that uses most of Its resources to produce fruits and vegetables. If the country produces only fruits it is able to produce 8000kg of fruit per year. If i
concept of narrowness in pure economics
Below are the two estimated cost functions. describe what type of data was most likely used to estimate each one and why. Explain which is a short- run function, determine the leve
International economic relations also depend, in large calculate, on monetary =issues. You are unlikely to accept the Turkish Lire in payment for your wages in this country, easil
what is marginal cost
Mixed Economic System and how can this system solve the economic problem, with example?
what happens when price is fix and there is a change of the supply and demand curve
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