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Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
The price at which output is sold in a perfectly competitive market is determined by
would a rational producer be concerned with the average or marginal product of an input in dec
to prepared a projects
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If producers expect future prices to enhance, current supply will decline in favor of selling inventories at higher prices later. In other words, supply will reduce (a shift to th
The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a deman
given the cost function as C=0.3Q3-2Q2+13Q+25,find the supply function
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
state 3 major assumptions which a production posibility is based
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