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Determinants of quantity supplied of a good The quantity of supplied of a product is influenced by factors such as the market price of the commodity, prices of inputs, techno
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage
Insurance - Risk averse are willing to pay to keep away from risk. - If cost of insurance equals expected loss, risk averse people will buy sufficient insurance to totally r
What is Economic Depreciation?
factors that affects the volume of production
I have 3 questions regarding the economics of potlatch, 1.) What is the economic purpose of potlatch? I don''t fully understand this question... I believe potlatch is a gift econ
What is the marginal opportunity producing the first unit of paper? The marginal opportunity cost of producing the forth unit of paper?
What are the 2 approaches in which results into a higher satisfaction?
what is the langrangian function
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