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What is optimal output rule?
Optimal output rule:
According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that the marginal cost of the final unit produced is equivalent to its marginal revenue.
Northern Lumber operates a large lumber-processing mill in a small town in Washington State. It is one of the larger lumber producers in the region and has some market power in th
"Inflation is not possible under the gold standard." Is this declaration true, false, or uncertain? Describe your answer
what is equi marginal concepts?
bargaining power of customer for a cement company
Interest rates Decreasing the rate of interest may not encourage investment but increasing the interest rate tends to lock up liquidity in the financial system.
No new substitutes for the commodity If some new substitutes for a commodity appear in the market, its demand normally declines. This is quite natural, since with the availabil
firms both in monopolistic and perfect competition tend to make normal profits but why do they criticize only monopolistic competition
According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital
Neo Classical vs Keynesian School We know that Keynesian economics was propounded as a revolution against the then prevailing orthodoxy of the classical school. In time,
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2 . Thanks a lot!
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