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Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
STATE AND EXPLAIN SLUTSKYS THEORM?
what is the theory of second best ? prove the theorem with the help of a diagram ?
REAL BUSINESS CYCLES: The extent of this module is partly indicated in the title. It is about real business cycle (RBC) theory. In addition, it exposes you to New Classical Bu
Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma
3, chapter 12
Learning curve implies: 1) The requirement of labor falls per unit. 2) Costs will be high at 1 st and then will fall with learning. 3) After eight years the labor requ
Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov
explain the various marginal uses and limitations of break even poin?
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
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