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explain two theories of economic rent
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
discuss the revealed preference theory of consumer behaviour
Economies of Scope in the Trucking Industry * Questions: - Economies of Scope - Are large-scale, direct hauls cheaper and more profitable than individual hauls by small t
how do I calculate for utility
what do we mean by The narrowness of definition of the commodity.
waht are the characteristics of perfect competetion market
Suppose the price of books is $15, the price of movies is $5, and your income is $75. Assuming you have a desire to reach constrained optimization, how many movies will you buy? Ho
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
What is meant by minimum wage? The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are examined by the forces of sup
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