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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.
significance of income elasticity coefficient
different types of production funtion and curve given by different economist
Discuss MO theory in detail?
Differentiate between real and nominal variables. In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest
how to estimate a regression model that tests for higher ability individuals get a greater return from schooling
how to find pareto efficient output using algebra
Insurance - Risk averse are willing to pay to keep away from risk. - If cost of insurance equals expected loss, risk averse people will buy sufficient insurance to totally r
Example of a cost function
implications of market structures on price determination
Define the generality of economic theory in the modern economics. Generality of Economic Theory An economic theory is based onto assumptions imposed onto economic environmen
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