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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.
unemployment is voluntary, discuss in view of the classical economists and the keynesian
criticisms of monopolistic competition
1. Consider a model economy with a production function Y = K 0.2 (EL) 0.8 , where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is define
Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob
defin giffen goods?
Define Nash equilibrium
WHAT IS PPC
explain the nature and scope of economics.
the diagram used to illustrate abnormal and normal progits
What determines aggregate demand?
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