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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
what are the main properties and assumptions of indifference curve
Document Design It refers to the overall "look" and design rather than the content of a document. Specific elements such as white space, limited paragraph indentations, length
What is main difference between nominal money supply and real money supply? Real money supply is the supply of real money in the economy. Real money is supplied considering th
Yao''s weekly demand for basketballs is given by Qd = 3-P^2 where P is the price of basketballs. At the current price, Yao''s demand for basketballs is unit elastic. What is the cu
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
Why do actinides exhibit o.s equal to the sum of the valence electrons.
3. You plan to sell a sunglasses clip that you can attach to a car''s sun visor. You can purchase the goods from a wholesaler at $2 a piece and there is an overhead cost of $500 pe
diagram of extension and contraction in demand?
Institutionalist Economics: A school of heterodox economicsthat emphasizes importance of institutional development and evolution (as opposed to ‘pure' market forces) in explaining
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