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Two firms produce a pollutant called Q. The total costs of reducing emissions of Q are as follows for Firm 1 and Firm 2, respectively: TC1=10+100Q12 TC2=20 + 50Q22. This means tha
The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product. For example, the quantity demanded
The town utilizes standard disc type PD water meters for all residential connections. These meters were warranted by the manufacturer to be accurate within two percent of actual f
what is budget line?show the shift in the budget line
Explanatory research is research conducted in order to describe any behavior in the market. It could be done by using questionnaires, group discussions, random sampling, interview
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what is the law of diminishing marginal product? explanation with the help of proper schedule and diagram.
Allocated Stock and Safety Stock Allocated stock A category of stock which ensures that current stock is set aside and not issued under the normal procedure. Safet
Fiscal Policy Fiscal policy refers to the management of government spending and tax policies to influence total desired spending so as to achieve the desired level of economic
We discussed why economists prefer to use available statistics and econometric techniques over other means of measuring consumer demand. Write a short essay describing a situation
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