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1. Cost minimizing firms must be profit maximizing as well. False, why??
Define the concept of cross elasticity of demand
what is the importance of law of supply
Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
what is diversification
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
Micro economics is the study of individual unit of an economy
are most local phone companies natural monopolies?
Elasticity of Price Expectations (epe)
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