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Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
In November 2010, every Mzumbe University student had an income of 150000/= per month,facing the price of meal (X) 1000/= and average price of other goods (Y) 1000/=.The initial ut
How to find quantity supplied given just the price
What is market clearing level and public good? Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity f
It is also known a sleadig indicators forecasting National Bureau of Economic Research of U. S.A has identified three types of indicate Leading indicators coincidental indicators a
2 i) Explain what are the key assumptions by the welfarist approach. ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it
. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product
can average labor productivity fall even though total output is rising
explain normal profits
Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected
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