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relationship between tfc , tvc , tc
how do you calculate opportunity cost
How might one assess if a country in experiencing both growth and development? This is a matter of explaining clearly both growth and development; growth is an enhance in GDP (
Inverse Demand Function: If variable factor prices changes, then the isocost line will tilt and consequently, the optimal factor requirement will be different. Suppose the wage rat
Answer in true or false 1. "Improvements in environmental quality of a recreational site will, all other things being equal, increase consumer surplus of individuals that visit
Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following mark
The demand curve for gasoline is P = 200 - 10Q. a. Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price change
Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways. • It provides flow of technology which al
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
When should a firm shut down production in the short run?
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