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Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
illustrate and discuss the implications of various market structures (competitive and non competitive) for price determination
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How does the production possibilietes curve relate to present day economics?
critically evaluate the two main utility theories
About Bounce Fitness Bounce Fitness provides a range of services and arrange various sessions and programs in the area of fitness that helps to the people to be healthy. The
how do minimum unit costs change with changes in fixed cost?
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
what is modern theory
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