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in the context of managerial economics how do you explain a rational producer.illustrate giving example.
Answer in True or Flees 1. "Revealed preference methods for valuing environmental services and goods (for example hedonic price method, travel cost model, etc.) can reveal non-
the short run can be defined as any period of time
relationship between total utilities and marginal utilities
(a) Describe the different types of inflation in a country. (b) Describe the trade-off between inflation and unemployment, using appropriate diagrams. (c) Mauritius has bee
Determine the Cost Efficient Levels of Emissions Reduction Two firms produce a pollutant called Q. The total cost of reducing emissions of Q are as follows for Firm 1 and Fir
#question.theories of cost
Explain the term economic efficiency? Answer: Economic Efficiency means full utilization of all available resources in economy i.e. to produce the needed amount of goods and
Capitalist Economy: Under capitalist economy factors of production are owned and managed by private entrepreneurs. Production takes place on. the initiative an enterprise of the pe
a) Explain the perverse incentive. b) What makes the incentive perverse? c) How could the incentive makers better the incentive?
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