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describe returns to scale and give examples of each.
illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine
"As long as consumers are willing to pay a positive price for a good, the larger is the quantity formed, the greater is the total surplus from trade." Explain this statement if i
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
What barriers to economic growth can be explained using the Harrod-Domar model? Definition and outline of the Harrod-Domar model; growth in national income = savings ratio over
Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assume the
firm''s product sells for Rs.200 per unit in a highly competitive market. The firm produces output using capital (which it rents at Rs.7500 per hour) and labor (which is paid a wag
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what is microeconomics
Is Indian companies running a risk by not giving attention to cost cutting?
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