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Explain about the diminishing returns to an input.
There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of other inputs fixed, leads to a decline within the marginal product of such input.
Marginal Product of Labor Curve
Total Product, Marginal Product, and the Fixed Input
Total Cost Curve for George and Martha’s Farm
Sara runs a small business assembling personal computers. This table shows her total cost at different levels of output. Number of computers produced
Using the Mundell-Fleming model, describe how an increase in a country’s risk premium on the world interest rate can result in a higher level of real income. Under what circumstanc
discuss the different of cost?draw the cost curves
what is the difference between demand and supply?
You are the mayor of a beautiful city by the ocean, and your city is connected to the mainland by a set of k bridges. Your city manager tells you that it is necessary to come up wi
Give brief Introduction about Interest rate When you borrow money, you usually have to pay a fee for the loan. This fee is often called interest, particularly if the fee is pr
Q. Overnight rates and interest rates with longer maturity? By controlling overnight interest rates, central bank will affect interest rates with longer maturity. Main reason f
What is fixed cost and variable cost? By the Production Function to Cost Curves: A fixed cost is a cost which does not depend onto the quantity of output generated. This i
Q. Explain about IS-LM-model? The key difference between the IS-LM model and the cross model is that nominal interest rate is exogenous in cross model on the other handit is en
The elasticity of demand in the local hardware industry is -2, while in the video market it is. Which industry has a higher markup over marginal cost (as a percentage of price)?
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