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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capital equipment). Its calculation is: revenue - cost = profit.
definition
please may you explain this concept
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
GIVE AND EXPLAIN IN DETAIL,ARGUMENTS GIVEN TO EXPLAIN LEONTIEF''S EMPERICAL FINDINGS ON THE HECKSCHER-OHLIN MODEL OF TRADE.
Ask questiowhat are the importance of the branches of economics
1. What are the uses of elasticity to the public sector and private sector? (20 marks)
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
"price makers" never want to produce in the inelastic part of their demand curve why
price elasticity of demand any 2 commodities
explain the main criteria for classifying firms into industries.which criteria serve the better and why?
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