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Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit. As fixed costs have no impact on marginal cost, it can be given as: Average Total
Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone
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identify three factors to criticize the theory of consumer behavior or utility theory
Problem 1: a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. b. According to you, which type of economic system is most desira
What are the properties of consumer demand? Properties of Consumer Demand: In this section check the comparative statics of consumer demand behaviour as: how the demand of cons
What is significance of methodological economics...
"Assume the local fixed telecommunications company is a monopoly. It costs the company €2 per month to give voice messages service to a customer. Elasticity of demand for voice mes
what is the south africas governments standpoint on international trade
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