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What is the expected profit?
How would the price mechanism decide resource allocation in a competitive (free) market? The main issue it to explain how the price mechanism has a signalling, rationing and ince
define and explain the concept of social efficent production
What are the advantages of trade surplus
Explain the Kuhn-Tucker Theorem in economics. Kuhn-Tucker Theorem: Assume that x solves the inequality constrained optimization problem and also satisfies the constrained qu
Financial relationship with the IMF: IMF provides temporary assistance to member countries to tide over BOP deficits. When a country requires foreign exchange, its tenders its
consumer surplus and elasticity of demand assumption of consumer surplus criticisms of consumer surplus consumer surplus in terms of indifference curves importance of the concept o
a) The production function of certain firm is given as Q = 40 K 1/2 L 3/4 A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maxim
cobb douglas production function?
isoquants curve shows
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