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If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
Consider an upstream firm in Russia that mines iron ore at a total cost of $15 q , where q is the number of tons of ore. This upstream firm then ships ore to Germany for processi
How to solve questions of endowments?
Official Reserve Account: This part of the balance of payments informs us about how the balance of both current and capital accounts taken together is settled.Transaction in thi
Equity: The proportion of a company's total assets which are "owned" outright by the company's owners. A company's equity is equivalent to its value less its debt owed to bankers,
what is the use of models in economics?
Can marginal cost be constant? If so, does this mean that marginal cost are equal to average variable cost?
How the inflation effect on the Import and Export of the country? When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp
is country beter off with ban on imports?
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
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