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#q7. Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) sched
explain the fundamental task of economic system usin tomatoes as an example
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
CURRENCY UNIONS AND OPTIMUM: This Section explains the working of monetary unions and common currency areas. The Section also examines the case for and against optimum currenc
describe the dominent firm model
Use a PPF to explain the difference between actual and potential growth. The PPF shows possible output, taking into consideration all factors of production - but de facto outpu
how do minimum unit costs change with changes in fixed cost?
discuss the implications of various market structure for price determination
x-3y+6z=1 2x-5y+10z=0 3x-8y+17z=1
Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi
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