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Risk Loving
- A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value.
Some Cost Considerations for Managers * Three guidelines for estimating the marginal cost(MC): 1) Average variable cost should not be used as substitute for the marginal cost(
The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
i when should continue to produce in the short run
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Explain what economies of scale are and why they have become increasingly common in later years. Economies of scale - Enhance in fixed factors, but output enhances at a propo
Derivation of compensated demand curve: Hicksian compensated demand function for x 1 is given by x 1 =x 1 (p 1 , p 2 , U), where Hicksian compensated demand curve for a good
when average product is decreasing, marginal product is?
COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq
how do you create a combined ppc consisting of three people
Proportion of Workers in Organised and Unorganised Workers: Increasing share of employment in unorganised sector reflect the deterioration in the quality of employment because
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