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How are the limitations of the economics theory affected? Limitation of Economic Theory: While examining the generality of an economic theory, one must realize any assump
what are the properties of indifference curve
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
The most fundamental economic problem is scarcity.
how does the program food stamps work????
the sources of market failure
Private Returns Versus Social Returns As there is subsidisation of education by the state in all countries (and a little higher subsidisation in developing countries) it happe
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
bains limit theory
A major component of the costs of many large firms is the cost associated with ordering and holding inventory. If the yearly demand for the good is D and the size of each order pla
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