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National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
law of diminishing returns
illustrate and explain using diagrams how a single seller within the market can maintain an inefficient allocation of resourcesquestion #Minimum 100 words accepted#
I am risk averse, and trying to maximize my expected value of c0, 5, where c is my fortune. I have 50.000 in cash, and also art with a value of 200.000 which I keep in my basement.
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
MONOPOLISTIC MARKET
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How base case NPV analysis is applied in financial risk management
implications of market structures on price determination
Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii
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