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National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
how to find total revenue total cost approch in equilibrium firms
what do you understand by production posibility curve?
Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0
Let''s assume that a monopolist decides to maximize revenue, rather than profit. How does this operating objective change the size of the deadweight loss?
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
what is break even quantity
draw the total revenue curve and the total cost curve showing the profit maximizing level
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
Business sell to households in the resource markets, but households sell to businesses in the product market
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