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What is consumer surplus? What is its significance and what causes it to change?
using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
what are the similarities and differences of marginal productivity and marginal utility
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What is "high-powered money"? The "high-powered money" is the similar as monetary base, which is defined, at the minimum, as the sum of the currency in circulation (banknotes
MUa/MUb how it happens? and why this occur?
The market demand function of a firm is given by 4P + Q - 16 = 0 And the AC function takes the form AC = 4/Q + 2 - 0.3Q + 0.05Q 2 Find the Q which gives: (a) Maxim
Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man
what are things you need to look in manner of functions,elements,purpose,types and definitions?
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