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The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
meaning of economics laws
what is the relation ship between mp,tp,ap
what is economic model and role of assumptions in it.
what the contenporary issues in micro economics in nigeria
Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru
Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
Allocated Stock and Safety Stock Allocated stock A category of stock which ensures that current stock is set aside and not issued under the normal procedure. Safet
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