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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
critical of comparative advantage theory
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
Five uses of elasticity on the Public Sector and five uses of elasticity on the Private Sector.
concept of the law of supply
how to calculate tc,tvc,tfc,afc and mr
The economy, however, is facing inflationary pressures. To deal with the macroeconomic problem, the government uses expansionary fiscal policy to decrease taxes and, as an indirect
Critically examine recent developments in demand theoryon #Minimum 100 words accepted#
derivation of demand funcation using indifferance curv ordelreay and competed demand curv
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
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