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P=140-4Q mc1=20+30q for plant 1 mc2=80+10q for plant 2 how many units should be produced by plant 1 and plant 2 to maximise profit for this monopoly?
The reason that an entrepreneur supposes the risk of starting a business is to earn profits. The fundamental assumption in the theory of production is that a rational owner of a b
LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
Q. What do you mean by Benefits? The benefit of a project, policy or programme is the positive, expected aspect of an outcome, including the improvement in environmental qualit
Define the generality of economic theory in the modern economics. Generality of Economic Theory An economic theory is based onto assumptions imposed onto economic environmen
What is Hybridization? Atomic orbitals can be combined, in a process called hybridization in chemistry , to describe the bonding in polyatomic molecules. Descriptions of the b
1- a- What are the five components of a time series? b- Briefly explain how you would estimate each component. c- What does deterministc trend mean? How do you detren
What is methodological economics? how its significance, Describe use of methodological economics...
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