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The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
• Production Function . The factors of production have to be combined in a particular manner to produce a certain product. Think of baking a cake which involves mixing fixed propor
when total production fall what,s the status of average product and marginal product
comprehensively discuss the market structure in the South African mobile telecommunication industry
the conclusion
#questAbout four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for genera
How might a firm in an oligopolistic market attempt to increase market share? Explanation of oligopoly; concentration ratio, producer sovereignty Explanation that oligopolie
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
suppose you have a coffee shop. list of fixed input and variable input for operating the shop
what is the basis of marginal utility
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