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discuss scarcity,choice and opportunity cost
Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
1. Utilize Okun's law to answer the questions below; u t - u t-1 = -0.4(g yt - 3%) Assuming u t-1 = 7% a. Calculate the change in u (u t - u t-1 ) for each of the follo
Cost Sharing in Higher Education - Student Loans The method is popular as it directly targets only those who are the recipients of the benefits of higher education.The method
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
1. Assume that Malaysia can produce cencaluk at 25 bottles per worker and belacan at RM5 per worker. Assume that Indonesia can produce 10 bottles of cencaluk per worker and 20 pack
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
The Industrial Revolution The century after 1750, saw the industrial revolution proper: invention of steam engine, spinning jenny, power loom, hydraulic press, railroad locomot
Problem 1: i) Is Protectionism always beneficial? Discuss. ii) To what extent can a country actually rely on the principle of Comparative advantage before engaging in in
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