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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.
A Firm's
discus how opportunity cost influence supplier''s decision to supply labour
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
WORLD TRADE ORGANISATION (WTO): The International Trade Organisation (ITO), originally, was proposed to be set up along with the World Bank and the IMF on the recommendations
who is a rational behaviour
a consumer consumes only two goods x and y is in eqillibrium price of x falls explain the reaction of consumer through utility analysis
The economy, however, is facing inflationary pressures. To deal with the macroeconomic problem, the government uses expansionary fiscal policy to decrease taxes and, as an indirect
What are the properties of indirect utility function? Properties of the indirect utility function: While u(x) is continuous and monotonic onto R L + and (p, m) > 0, the in
for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
sequential game
Measure Inflation : There are two common methods of measuring inflation: (i) percentage change in price index numbers (PIN) , and (ii) change in GNP deflator. The tw
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