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Allocative Efficiency
The production of products and services such that stages of production are closely tied to levels of customer demand.
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
derive PCC for complementary goods
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
How does the BLS classify people who are "not in the labor force," and what people are often in this category? If an individual surveyed (that is, who is age 16 or over and no
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
Suggestions For the last 60 years the Bretton Woods institutions have played an essential role in ensuring global financial stability and fostering economic growth and develop
When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.
Determinants of quantity supplied of a good The quantity of supplied of a product is influenced by factors such as the market price of the commodity, prices of inputs, techno
what is the Theory of second best? Prove the theorem with the help of digram
Why is it so difficult for government to achieve all macro objectives simultaneously? Specifically showing possible trade-offs i.e. a) Stimulatory policies which enhance AD
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