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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
Price elasticity of supply: It is the responsiveness of quantity supplied of a commodity to a change in the price of the commodity and measured as percentage change in quantit
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What does the IS-LM framework mean? The IS-LM model helps us to understand the two opposing theories. The IS (investment/saving) curve shows equilibrium in product markets. Th
Economic appraisal - Appraisal , which seeks to quantify, and where possible calculate the welfare impacts from, the costs and benefits of a project or policy.
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4 The demand schedule c
discuss the implications of various market structure for price determination
The Productivity Growth Slowdown However in 1973 steady trend of climbing rates of productivity growth stopped cold. Between 1973 and 1995 measured growth in output per worker
Will Governments Follow Good Policies? That governments can assist in development and growth doesn't mean that governments will. The broad experience of growth in developing ec
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