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What is opportunity cost? Answer: Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that co
Workers' Co-operative: Another form of privatisation is transfer ofownership of a loss-making concern to the workers. Mr. R. Ganpati, formerChairman of the Board of Industria
how to solve for marginal revenue
Explain in detail the concept of PPC with suitable eg.
What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa
Production with Two Variable Inputs * There is relationship between productivity and production. * Long run production K& L are variable. * Isoquants analyze and compa
The prevention of major swings in economic activity can be handled most easily by the
IMPLEMENTATION OF ECONOMIC POLICIES: Innumerable studies are available to document these failures of policy and planning. However, there are vast differences of opinion conce
what happens when price is fix and there is a change of the supply and demand curve
When you drop by the only coffee shop in your neighbourhood, you notice that the price of a cup of coffee has enhanced considerably since last week. You decide it's not a big dea
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