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Explain the factors influencing the value of PED and yED. PED and YED should be explained and then dealt with in terms of determinants. PED is dependent on availability/closene
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
meaning and characteristics of plural sense and singlural
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waht are the characteristics of perfect competetion market
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
bain''s model of limit pricing with diagram
what is ratios GNP? what is use of models in macroeconomics?
the existance of a labor marketcharacterised by perfect competition is a fallacy.discuss
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