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What is the difference between indifference curve and isoquants?
An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Indifference curve shows behavior of a consumer in consumption. An isoquant shows dissimilar combinations of factors of production which a firm can employ. Isoquant shows behavior of a firm in production.
Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu
Accounting profit equals revenue minus all explicit costs, and economic. One profit is defined it should not be difficult to measure the profit of a firm for a given period. But tw
what is law of variable proportions?
given short run total cost curve :10q^2+4q=100 and short run marginal cost MC=20q+4 and market demand Q=100-p what''s the equation of the short run supply curve?
if a bank has $6000 in checkable deposits and the required reserve ratio is 0.2 then the bank can lend how much money?
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
The question states that a hotel charges $60 a night for a room per night during off peak. This hotel has a fixed cost of $75 per night and variable costs of $40 per night (only ap
What is the purpose of the IMF and why might the IMF be called the “lender of last resort”? Discuss how three of the tools they use for establishing economic stability in a country
functions of taxes
Dynamic model
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