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Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
How to calculate new profit earn by a firm in oligopoly if another firm cheat
I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th
Deviation in graph
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
#question.theories of cost
What are the properties of cost function? Properties of Cost Functions: Some similarities are here with consumer theory. Such similarities are actually exact while one compa
1. What is simultaneous biases? Discuss the cause of ednoginity in regression analysis. 2. Explains concisely what is meant by ' the identification problem'' in the context of l
Second degree price discrimination (two part-tariff) An electric utility in Ontario has the following cost structure: TC = 500 + 20Q Suppose that the market (inverse o
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