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for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
what is market equilibrium and disequilibrium?
Boltzmann Distribution: In most cases of interest of chemistry the particles adopt the Boltzmann distribution. Qualitative considerations: the general expression for W given by eq
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
what is supply and demand
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
Examples
Why and how are economists attempting to create more accurate measurements of development? The why part is simply because of the complexities built-in to the concept of develop
Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost
CASE STUDY IN RELATION WITH TOTAL REVENUE,AVERAGE REVENUE AND MARGINAL REVENUE
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