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What is methodological economics? how its significance, Describe use of methodological economics...
Define Law of conservation of mass, Explain briefly, Law of conservation of mass: In all physical & chemical changes the total mass of the reactants is equal to that of the produ
I wanted to the fixed and variable costs of breadtalk in singapore from economic perspective
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
explain normal profits and abnormal profits
Factors that calculate price elasticity of demand: The proportion of Income spent on the Commodity If the price of a good is relatively low such the expenditure on it is a
Suppose that a firm’s production function is given by Q=30L-3L2, where L is labor input and Q is the output. a) Derive and draw the firm’s demand for labor while the firm’s produc
#questionLook up the real GDP of the U.S. for the 4th quarter of 2007 and compare it with the real GDP for the 2nd quarter of 2012. What does this tell you about the performance of
(a) Suppose Scientists discover that eating soybeans prevents cancer and heart disease.
why is the point outside the production possibility curve(PPC)called unttianable
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