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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.
In an industry with two firms, represent the outputs for these single product firms as q 1 and q 2 . The two firms decide to form a cartel and set their levels of output to maxim
Using a demand and supply diagram,analyse the effect on the market for Ghanaian football shirts. a. A fall in incomes in Ghana and neighboring countries
What is Hicksian demand function? Hicksian Demand Function: The solution of expenditure function that is the function of (p, u) is denoted by h(p, u) and termed as the Hicks
Implicit in these analyses is the fact that without government we could have neither shortage nor surplus. In large calculates, the suspicion of government is due to it has the po
the definition of exceptional supply curve
what is Law of Demand?
Conditionality: International financial institutions (such as World Bank andInternational Monetary Fund) usually attach strong conditions to emergency loans they make to developing
NEER Vs REER: In a situation where there are multiple trade partners, the effect of cross-currency movements are judged by nominal effective exchange rate (NEER) and real effe
What was the price index for 2008, 2009 and 2010?
explain budget line?
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