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explain how macro and micro issues may be represented using production possibility curve
1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm ha
what is the reason behind studing this topic ?
illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine
How to solve questions of endowments?
who is a rational behaviour
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
demand: Qd=100=Px supply: MC=10+1/2Qs assume first that this firm operates in a perfectly competitive market. find the price and quanity in this market.
how to find least cost combination of factor inputs given the production
1. What is the relationship between a firm's total revenue, profit and total cost? Give an example of hypothetical data and draw the curves. 2. Define economies of scale and e
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