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Differentiate the definition of economics as given by Prof. Marshall and Prof.Robbins. Illustrate the concept of production possibility curve .How PPC is helpful to solve econom
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Since World War II, North Korea has had a centrally planned economy in which the government makes the big decisions on how resources will be allocated. Why would you expect North K
contemporary issues in microeconomics in nigeria
Carmen, the Queen of Electra, is concerned over what she believes is an excessive consumption of electricity. Consequently, she proposes an excise tax on electricity consumption w
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
Visit to a village panchayat for agriculture based project
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
What is What is Critical Temperature? Why Critical Temperature is Specified in Equation? Describe critical temperature specification...
MRTS and Marginal Productivity The change in output from change in labor equals: The change in output from change in capital equals
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