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Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n
Consider the following information relating to the pulp market. Demand Supply Output(tonnes/ da
the definition of exceptional supply curve
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Q. Show the Environmental Taxes? Environmental Taxes: Taxes which are imposed on particular activities, or particular products, which are considered to be especially damaging t
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe
If a 10% increase in the price of computers leads to a 20% reduction in the quantity demanded, what is the coefficient of demand elasticity? 2. A local government wants to increase
3.Cost Minimization for Cobb-Douglas. Suppose the Acme Gumball Company has the produc- tion function of q=LK. Given that the MPL=K, MPK=L and MRT S=MPL/MPK. Part a-b, we are anal
What is indifference curve and its properties?
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