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What are the possibilities of returns to scale in production technology? Three possibilities are there as: technology exhibits (a) constant returns to scale; (b) decreasing ret
Reorganisation of Export Councils: India has a large number of exporpromotion councils, commodity boards and other similar agencies, butheir impact on India's foreign trade h
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Participation Rate:Proportion of working-age individuals who decide to ‘participate' in the labour force, by either being employed or actively seeking work. Precise definition of w
Problem 1: a. Use the circular flow model to explain the concepts of injections and withdrawals. b. Explain the concept of budget multiplier. c. Using the concept of mult
suppose you have a coffee shop. list of fixed input and variable input for operating the shop
Consider the model of corruption explored by Shleifer and Vishni's where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
Pre-Funded Pension: A pension plan in that funds are invested and accumulated throughout an individual's working life in order to pay for subsequent disbursement of pension benefit
Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0
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