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Economies of scale are advantages obtained from a company becoming large and diseconomies of scale are additional costs inflicted because a firm has become very large. The causes
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
Environmental pollution may be eloborate as the contamination of the environment, with harmful wastes arising mainly from human activities. All these activities release certain m
if nominal GDP in 2002 exceeds nominal GDP in 2001, did real output rise?
Question 1: (a) Describe the three different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standardof a population?
Q. What do you meant by Informal Economy? Informal Economy:Informal sector of the economy represents the production of services and goods for the own-use of the producers or fo
What is the difference between Price inflation and Wage Inflation? Price inflation is the rate of enhance in the prices of goods and services whereas the wage inflation is ra
draw the demand curve,when there is rise in the price of a product on the demand of the product
Why some country saving less and consumption more?
Ali Pizza’s production function is shown in the table above. Ali currently operates Plant2. He hires workers at a wage rate of $50 a day and his total fixed cost is $150. a) Calcul
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