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explain normal profits and abnormal profits
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
RELATIONSHIP BETWEEN TFC ,TC ,TVC
Determine Optimal Price, Quantity and Economic Profit A firm has a demand function P = 200 – 5Q and cost function: AC=MC=10 and a potential entrant has a cost function: AC=MC
concepts of suply
Inverse Demand Function: If variable factor prices changes, then the isocost line will tilt and consequently, the optimal factor requirement will be different. Suppose the wage rat
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
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