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draw the total revenue curve and the total cost curve showing the profit maximizing level
identify which curve (demand or supply) will be affected?
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
Functions of the IFC: The purpose of the IFC is to further economic development by encouraging growth of private enterprise in member-countries. The IFC, therefore: • inv
what is the definition of economic system?
why diminish MRS?
Suppose that the total revenue function of a firm is given by TR(q) = 120q - 2q^2, where q is the level of output. Find the level of output q that will maximize the firm’s total re
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Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
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