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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,
Briefly discuss the components of macroeconomics system with suitable explanation
what is the langrangian function
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
explain the concept of producers'' equilibrium
the short run can be defined as any period of time
Gross Domestic Product, Deflator: A price index that adjusts the overall value of GDP according to average increase in the prices of all output. GDP deflator equals the ratio of no
You should find two articles, of which one should report on changes that make farming more productive (more food per acre, hour or other unit of inputs), and another about changes
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
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
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