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what is the law of diminishing marginal product? explanation with the help of proper schedule and diagram.
Question 1: Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the man
Suppose the demand curve for a consumer for coffee is: Q = 6 – 2P, where Q represents the number of cups per day and P is the price of coffee per cup. Question: Sppose the co
With the aid of a diagram explain the long run average cost curve and the influences upon it.
#quesSuppose that two anti-marijuana proposals are currently being debated in Congress. Proposal I will reduce the supply of marijuana and cause its price to rise by 7%. Proposal I
Ask questioThe difference between the present value of cash inflows and the present value of cash outflows over a period of time is termed as Net Present Value. This is used for th
how measure the inflation
Differentiate between firm and industry. A firm is a business unit produced for the purpose of carrying out some kind of trading activity. The term "firm" is used in many ways
List and describe the determinants of the price elasticity of demand and of supply.
During a given interval a nation''s overall productivity grows at a compounded rate of 2%. Its population growth rate and degree of labor-force participation do not change over thi
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