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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.
current rate of gdp
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
primary reference electrode,she
price elasticity of demand any 2 commodities
how does economics bridge the gap between economic teory and practise
Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
Attitude towards Risk: Let's assume the following: The utility function • has the single argument "wealth" measured in monetary units, • is strictly increasing, and
critical of comparative advantage theory
defination,characters,examples,graphs,share,effort
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
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