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what is outputgap?
Explain the difference between elastic and fixed supply
what is Law of Demand?
Define Average Total Cost and Average Variable Cost Average Total Cost: The amount spent on producing every unit of output. The average cost is calculated by dividing the t
explain marris model of the managerial enterprise
Why narrowness of definition of a commodity may influence price elasticity of demand
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
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
Arbitrage Pricing Theor y Arbitrage defines the procedure of continuously buying a security for privacy, currency, or commodity on one market and selling it in another
What is a negative externality?
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