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Explain what economies of scale are and why they have become increasingly common in later years. Economies of scale - Enhance in fixed factors, but output enhances at a propo
Proportion of Workers in Organised and Unorganised Workers: Increasing share of employment in unorganised sector reflect the deterioration in the quality of employment because
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
average-marginal relationship
Consider the market for Kitty Litter. Assume this industry is purrfectly competitive and is presently in long-run equilibrium. Suppose people begin to prefer Dogs as pets and Cat
CURRENCY UNIONS AND OPTIMUM: This Section explains the working of monetary unions and common currency areas. The Section also examines the case for and against optimum currenc
what are the pros and cons of monopsony
Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in
The following are AC and TC functions for various firms (i). AC = 140/Q + 20 (ii) AC - a/Q = k (iii) TC - 10 =2Q + 0.1Q 2 (iv) TC - k - βQ = cQ 2 Where a, k, β and
Review the following information pertaining to the potato chip industry and answer the questions below in a five to six double spaced page paper (not including title and reference
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