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argument against in favour of traditonel theory profit maximisation
(1) The demand curve for oranges is given by the equation P = 5 – Q/200. The supply curve is given by P = Q/800. Q is measured in oranges per day and price is measured in dollars p
Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res
Private benefit and social benefit: Bridge the gab between private cost and social cost, and private benefit and social benefit.Under perfect market, there may be a divergence
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assignment
Example of a cost function
Question 1: a) Describe the different types of unemployment that exist. b) Critically examine how monetary policy will be used to deal with inflation. c) Critically deter
Which of the following industries do you think are likely to exhibit large economies of scale? Explain why in each case. a. House building b. Electricity generation c. Market ga
CRITIQUE OF ECONOMIC REFORMS: The critique of economic reforms should consider the actual growth rate achieved, its impact on employment and poverty reduction, its impact on l
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