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to what extent does Marginal revenue productivity theory explain wage determination in Zimbabwe
Explain how diminishing returns differ from diminishing returns to scale. The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all facto
Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which
1f
Where the equation of isoquent drived from?
Point Elasticity of Demand - For large price changes (such as 20%), value of elasticity will depend upon where price and quantity lies on demand curve. - Point elasticity me
Average product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable facto
If the short run method to produce Q quantity is with full time workers L=0.025*Q, COST OF WORKER IN THE SHORT RUN IS w=20226.154, how do you derive the value of Q
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
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