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Average Product (AP) of a Factor:
The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions, where analytical insight is tried to be drawn from marginal productivities, average productivity finds a platform in empirical evaluations. Deriving it from the total product is relatively easy. It is the output per unit of a factor.
how distribution is arranged to provide customer service
I want to know all about equilibruim consumer equilibruim firms equilibruim nd market equilibruim technically also??
Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa
is south african economic system more allocative efficient?
how do I determine the profit-maximizing quantity of a firm for different market prices when only given TFC, TVC, and the market price
A local airline charges $500 to fly (round-trip) to Louisville, Kentucky. From the past three months, whereas the $500 fare has been in effect every of the two daily flights have a
Working Capital: A business requires a certain revolving fund of finance to pay for regular purchases of initial labour, raw materials and other inputs to production. Working capit
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Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com
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