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A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
Fill in the column of marginal products. What pattern do you see? How might you explain it? b. A worker costs $30 per day and the ''Firm has fixed costs of $10. Use this informat
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
could the village prepare 14 campsites and grow 350 pawpaws?explain your answer.
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
CHARACTERISTICS OF ECONOMIC INFRASTRUCTURE: Natural monopoly is the situation where the provision of a good or a service has economies of scale, which are realised most when a
how to solve the credit multplier
Cost Functions for the Electric Power Sector Scale Economies in the Electric Power Industry Average Cost of Production in Electric Power Industry * Findings -
Explain how diminishing returns differ from diminishing returns to scale. The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all facto
what are the properties of indifference curve
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