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what do you understand by linear break-even point? in what way is it useful in managerial economics? what are the assumptions underlying the analysis?
concept of risk analysis
when average product is decreasing, marginal product is?
What is the difference between 'scarcity' and 'shortage'? 'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce go
1. Consider a model economy with a production function Y = K 0.2 (EL) 0.8 , where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is define
average-marginal relationship
According to the Linder theory ,trade will occur in goods that have overlapping demand. With aid of a graph ,illustrate this theory and its implications
a) The production function of certain firm is given as Q = 40 K 1/2 L 3/4 A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maxim
Discuss two factors that would increase demand for labortion..
If there is an industry and some of the companies get shut down, how would you graph the short run and long run effects
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