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explain normal profits and abnormal profits
THEORY OF PRODUCTION: Production activities related to goods and services require inputs. Typically, the set of inputs includes labour, capital equipments and raw materials. T
price quantity 10 60 20 70 30 90 40 110 50 130 derived a supply function for the relation between price and quantity
Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting
Questions 1. Mrs Holt, 85 years old, has been admitted to acute care following a fall resulting in a fractured femur. She is a widow and lives alone with her three cats for compa
how pp curve can solve the central problems of an economy?
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
CRITIQUE OF ECONOMIC REFORMS: The critique of economic reforms should consider the actual growth rate achieved, its impact on employment and poverty reduction, its impact on l
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
Explain the effect of increased money supply on bond prices
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