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Learning curve implies:
1) The requirement of labor falls per unit.
2) Costs will be high at 1st and then will fall with learning.
3) After eight years the labor requirement will be 0.51 and per unit cost will be ½ what it was in the 1st year of production?
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Q. Explain about Natural Monopoly? Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. T
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discuss african traditional methods of production and processing of food
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Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government
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