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Protection of infant firms: Infant industries are those firms, which are young. The absence of economies of scale to them makes their unit cost of production higher than older
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o
Consumers purchase a house or multiple dwellings for a number of reasons. But what is the rationale behind their decision to buy and/or sell a house, flat or apartment? Do consumer
Halala is a small country that uses most of Its resources to produce fruits and vegetables. If the country produces only fruits it is able to produce 8000kg of fruit per year. If i
The market structure in the south African mobile telecommunications industry
discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
is economics a positive science
Why demand curve is always negative and write its effects.
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