Perfect competition, The price at which output is sold in a perfectly compe...

The price at which output is sold in a perfectly competitive market is determined by

Types of external economies generates the output, What types of external ec...

What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved

What is meant by the circular flow of income, Problem 1: a. Briefly exp...

Problem 1: a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. b. According to you, which type of economic system is most desira

Cost minimizing input choice, The Cost Minimizing Input Choice - Assump...

The Cost Minimizing Input Choice - Assumptions Two Inputs: Labor (L) & capital (K) Price of labor: wage rate (w) The capital price - R = depreciation ra

Gdp price level, GDP Price Level At the equilibrium level of income agg...

GDP Price Level At the equilibrium level of income aggregate spending in the economy equals aggregate output. All along, we have assumed that the general price level remains un

Production function, how to find least cost combination of factor inputs gi...

how to find least cost combination of factor inputs given the production

Macroeconomics explore and apply, the basic circular flow model suggests th...

the basic circular flow model suggests that...

Why is the goal of stability important to many people, Why is the goal of s...

Why is the goal of stability and security important to many people?  What problems typically emerge during periods of instability? The instability over the business cycle can b

Demand and supply, draw the demand curve,when there is rise in the price of...

draw the demand curve,when there is rise in the price of a product on the demand of the product

Cross Price elasticity,