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What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and which are the most important factors of production in California? (iv) How can we expand the production possibilities curves? (give some examples at macro- and micro-economic levels)
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
Shifting the PPF Curve To raise the manufacturing of one good without reducing the production of the other, the PPF curve should shift outward. The PPF curve shifts outward as
#question.what is elasticity of demand? .
Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
Production having Two Outputs -Economies of Scope * Economies of scope exist when joint output of a single firm is greater than the output which could be achieved by two diffe
Is economics an art or a science
types of production function
The reduced row echelon form of A= is equal to R = (a) What can you say about row 3 of A? Give an example of a possible third row for A. (b) Determine the values o
#question.explain three neccessary condition to achieve pareto efficiency.
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
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