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do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
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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
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
Demand Pull Inflation and Cost-Push Inflation: Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in n
The Objective Probability - 100 explorations out of which 25 successes and 75 failures - Probability (Pr) of success = 1/4 and probability of failure = ¾ Given: -
using the basic Keynesian model answewr the following parts carefully using the relevant diagrams. what happens to the equilibrium level of GDP(Y) given the following: a) a reducti
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
draw a PPF when a hurricane slows down the nest two months of butter production?
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