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Economies of scale are advantages obtained from a company becoming large and diseconomies of scale are additional costs inflicted because a firm has become very large. The causes of economies of scale are that as a firm becomes larger it may be able to utilize labor and managerial specialization more efficiently, capital more efficiently, and may be able to profitably use by-products from its operations. Diseconomies of scale result from the organization becoming too large to effectively manage and inefficiencies developing.
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
In the diagrams related to bandwagon effect, why do we say when the price is 30$ the demand is 40?
Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
assignment
regression line drawn as Y=c+1075x, when x was 2 and y was 239, given that y intercept was 11. calculate the residual
substitution and income effect on inferior good
1. Through graphs describe the relationship between the price, P , and the average total cost, ATC , for a firm in perfect competition when it earns an economic profit; earns a n
Capitalist Economy: Under capitalist economy factors of production are owned and managed by private entrepreneurs. Production takes place on. the initiative an enterprise of the pe
Explain the effect of increased money supply on bond prices
Determinants of Private Demand - Non-Monetary Benefits Social status associated with university degrees is a determinant of investment decisions in higher education in the cas
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