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What population information is needed by local authorities to provide the right number of primary and secondary school places? How would such information affect the plans of the lo
Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterr
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
Private Returns Versus Social Returns As there is subsidisation of education by the state in all countries (and a little higher subsidisation in developing countries) it happe
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
Monopoly: Monopoly is a market structure in which there is a single firm producing a commodity or providing a service that has no close substitutes. As the sole supplier to it
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
What is main difference between capital intensive goods and primary products? Primary product means the major product in which the firm is dealing. Capital intensive good mea
In the long-run equilibrium, each firm in a perfectly competitive industry will choose the plant size associated with minimum long-run average cost. Is this TRUE or FALSE? And why?
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