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definition of abnormal isoquant and normal isoquant
How solve central problem of economy in mixed economic system?
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
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explain normal profits
Economic profit and Economic loss: Economic profit is the excess if total revenue over total cost when the latter includes both explicit and implicit costs. It is the type o
Discuss the possible solutions for private solutions (Coase Theorem) Question 8: Demand: P=100-Q Supply: P=Q MEB= 10 Discuss the possibility of over or under allocations of reso
using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
Consider a market that is served by a single-price monopolist with marginal cost given by MC = $100 + Q. The market demand is given by P = $800 – 3Q. Determine the following: the f
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
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