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INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the
why sellers and producers keep pricess lower
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
What are the problems of interest for several reasons in cost minimization? Cost Minimization: A significant implication of the firm choosing a profit-maximizing producti
what are the sources of oligopoly power
The following hypotheses are concerned with the general impact of FDI from Costa Rica trading partners on exports from the technology sector: H1: There is a positive signifi
causes and effect of the unemployment
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
What is What is Critical Temperature? Why Critical Temperature is Specified in Equation? Describe critical temperature specification...
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