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compare traditional modern and engineering cost curves
explain normal profits
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Name the five types of capital. The five types of capital are: natural capital, manufactured capital, human capital, social capital and financial capital.
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
Physical Capital: A tangible tool, machine, building or other productive asset that is used to produce other goods or services. Pollution: Many economic activities involve disch
What is meant by non Price Competition? In which market structure does it exist? None price competition is an effort put by the supplier to earn extra profit without enhancing
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
Environmental Scan SWOT analysis: SWOT analysis will help to describe about the strengths, weakness, opportunities as well as threats. This is the strategic planning method
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