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1. What is a resource market? 2. Describe resource demand and resource supply. 3. Define derived demand. 4. Describe the resource market demand and supply curve. 5. Define a te
given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total revenue function 2-calculate profit mazimization output for a-perfect competitive firm b-monopoly 3-explain whi
Question 1 Identify the basic postulates of economics Question 2 Discuss the role of price mechanism Question 3 Explain the shape and application of Engel curve
Question: Product differentiation and entry/exit Two differentiated goods, apples and oranges, are located at the two extremes of a linear product space (a segment of length 1)
Factors of Production : The factors of production are the resources that are essential for production. They are usually separated into 4 dissimilar groups: Land - all natu
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
Proportion of Workers in Organised and Unorganised Workers: Increasing share of employment in unorganised sector reflect the deterioration in the quality of employment because
Policy Orientation for Private Sector Investment The policy perspective in the matter of funding is undergoing a steady transformation aimed at according an increasing role to
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales
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