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draw a production possibility frontier task using the graph and value and identity the pareto efficent and inefficient point and the marginal oppotunity cost of x for each point of
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
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
#question.PROPERTIES OF INDIFFERENCE CURVES WITH TABLE AND DIAGRAM.
Is the terms of trade (TOT) explained as the ratio of the value of exports to the value of imports? How does the TOT relate to the exchange rate? The terms of trade (TOT) is ex
Case Study - EUROPE Let us now see how events unfolded over the decades in Europe that led to monetary unification in terms of a single currency and single central bank. At
explain normal profits
what are the criticisms of modern theory of rent?
would a rational producer be concerned with the average or marginal product of an input in dec
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