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National income: The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either fo
Unions in a Competitive Market: Again, there a group of economists who will rely on the use of the competitive model to demonstrate the evils of unionization. The most regular anal
Q=2h find the marginal point. where q is the quantity of electricity in MW-h and h is the amount of water (in 100s of liters per hour)
Indifference curve definition
Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
FOREIGN EXCHANGE MARKETS: A foreign exchange market (sometimes informally called the forex market, or denoted FEM) is a market in which different currencies are bought and sol
would a rational producer be concerned with the average or marginal product of an input in dec
1. National Marine Fisheries Service is considering closing a large area of federal waters to fishing in Alaska due to negative interactions of fishing with endangered Steller sea
When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.
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