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Curvature of the Iso-quant: An iso-qunat is convex to the origin. This is so because as more and more units labour are employed, the producer would prefer to give up less and
what are the uses of cross elasticity quantity in demand/
Q. Explain about Real Wages? Real Wages:Value of wages, adjusted for level of consumer prices. If nominal value of wages is growing faster than consumer prices, then real wages
Calculating Variance (σ) The standard deviations of the 2 jobs are: The standard deviation is used when there are several outcomes instead of only two. * An Examp
1. The following data consists of a 3 (age) x 2 (sex) natural design in which the proportion of pretend play between parents and infants changes as a function of age. The DV (Y) i
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composite supply v/s joint supply
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
How does production possibility curve help solve central problems?
why is the concept of elasticity crucial to the study of economics?
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