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Perfect competition:
The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situations. The closer examples are found mostly in agriculture and extractive industries. Nevertheless, the model of perfect competition provides a standard with which the actual performances of firms in certain segments of our economy can be compared.
Q. What is Tradeable product? Tradeable:A product (a service or good) is tradeable if its purchaser can purchase it far away from the place where it is produced. Most goods (ot
Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}. Your marginal cost of production is $2.50. What is the profit-maximizing price? Using this
WORLD BANK: The World Bank group is a partner in opening markets and strengthening economies. Its goal is to improve the quality of life and expand prosperity for people every
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
how does economics bridge the gap between economic teory and practise
given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total revenue function 2-calculate profit mazimization output for a-perfect competitive firm b-monopoly 3-explain whi
oxidation state of f block elements
What is inflation gap
1. Refer to the data in the file "asm2Q1.xls" on the annual number of fatalities (FATALS, y ) from gas and dust explosion in coal mines for the years 1915 to 1978 and the number o
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