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why mrts should convex to origin
Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
Consumer Choice * Decision making & Public Policy - Selecting from a non matching and matching grant to fund police expenditures
Ask qu a.Fill in the column of marginal products. What pattern do you see? How might you explain it? b. A worker costs $30 per day and the ''Firm has fixed costs of $10. Use this
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
Consider a consumer with the following Cobb-Douglass utility function: U (x, y) = x α y 1-α a) Find the Marshallian Demand for both goods. b) Find the Price Elasticit
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Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages pai
what is the energy of violet light with a frequency =7.50 x 10 to the 14 s-1
What is ceteris Paribus? Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa
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