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what is law of variable proportions?
a) Explain the conditions under which a monopolist is able to price discriminate. b) Demonstrate the relationship between a firm's marginal revenue function and its relationship
Explain the difference between a stock and a flow. A stock is something whose quantity is calculated at a point in time, whereas a flow measures the quantity of something ove
Isomers are two or more forms of compounds which having the same compositions. Types of isomers (a) Stereo isomers (b) Structural isomers
American Long Run Growth, 1800-1973 Throughout the 19th and the first three quarters of twentieth century the measured pace of economic growth continued to accelerate. The meas
Five identical people live in a small town and can earn a living either by having cattle $100 or by becoming a singer. If one person competes their expected payment is 210, if two
discuss how the price mechanism allocate resources in a free market system
Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
indifference curve for the demand for big macs
(i). A firm's costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6. (ii). The following are est
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