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Ask questiowhat are the importance of the branches of economics
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
• If Mary uses all her resources to produce hats, she can produce 48 hats an hour. • If she uses all her resources to produce apple pies, she can make 24 apple pies an hour. how
Comparison with Other Countries: The basic purpose of this type of comparison is that: (i) it helps us to know the potentials of growth that can be built up in an economy,
Cost in the Long Run Cost minimization with the Varying Output Levels -A firm's expansion path shows minimum cost combinations of labor and capital at each level of output.
Prove the theory of second best with the help of a diagram
CONSUMER CHOICE INVOLVING RISK: The traditional theory of consumer behaviour does not include an analysis of uncertain situation. Von Neumann and Morgenstern showed that under
what is aridge line and significance in economics.
Policies of Savings and Investment Policies to make sure that savers get reasonable rates of return on their savings have the potential to boost savings rate. Comparing systems
How to calculate: fixed cost is $1,000,000 tvc $4,400,000, avc is $22, atc $27, worker productivity is 4. How do I calculate the profit or loss?
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