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Why short run average cost curve is ‘U’ shaped
Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected
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What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
Problem 1: i) Differentiate between the short and the long run. ii) How is production characterised the short run? Explain the fully using numerical and diagrammatic illustr
Which of the following has not occurred over time in the past several decades in the physician services market? A. The level of competition has increased. B. Economies of scale ha
Q. Defien Hyper - Inflation? Hyper-Inflation:It's a situation of extremely rapid inflation (reaching 100% per year or more), frequently resulting from a condition of political
I have 3 questions regarding the economics of potlatch, 1.) What is the economic purpose of potlatch? I don''t fully understand this question... I believe potlatch is a gift econ
Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
Price elasticity of supply – Computes the percentage change in quantity supplied resulting from a 1 percent variation in price. – The elasticity is usually positive as price
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