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Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
Ask quesIn your own words describe how a market would adjust in situations of: a) Excess Demand b) Excess Supply c) Equilibrium As a follow up you might think about what effects
diffence b/n fixed and variable input
Since World War II, North Korea has had a centrally planned economy in which the government makes the big decisions on how resources will be allocated. Why would you expect North K
Assume that a shoe salesman learned the price elasticity of demand for her products is -1.5. How many percent will increase in total sales (revenue) if she cuts the price by 10%?
National Budget: A National Budget is a document showing estimates of expected government revenue and intended expenditure for the coming financial year. It usually consist of
Show that when a plane wave is transmitted through a thin lens of focal length f in the direction parallel to the optical axis of the lens, its converted into a paraboloid wave (th
Effects of weight loss A healthy body is required not only for the sake of health, but also for maintaining the standard frame of a body. A person experiencing the problem of weigh
Assignment: Externalities •Consider the following scenario: The city council has just approved the construction of a water park in your town. As city economist, you are responsible
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