perfectly competitive, Microeconomics

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how to solve for marginal revenue

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Suppose that in an economy 100 worker-hours produce 160 units of output in year 1. In years 2 and 3 worker hours are 120 and 130 and units of output are 216 and 260, respectively.

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Stackleberg Model : is another attempt at understanding the strategic decision making of oligopolistic firms. It derives its name from Heinrich Freiherr von Stackelberg whose brain

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Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in nominal aggregate demand. Simply, is can be view

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Risk Averse:   -  A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut

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