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law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
State about the prices - Price level Prices are of great significance in macroeconomics as indeed they are in microeconomics. Though, in microeconomics we are more interested i
COST-OF-LIVING INDEXES * The CPI is computed each year as the ratio of cost of a typical group of consumer goods and services today in comparison to the cost during a base per
The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
Average Total Cost (ATC): ATC is the total cost per unit of output. ATC = TC/y = (TFC + TVC)/y = AFC +AVC ATC falls sharply at the beginning of the production process because
ed=1 means p
what is profit maximization..
1. Go to the website for MarginalRevolution. Find">http://www.marginalrevolution.com Find two posts that related to microeconomic topics that we are covering and write about on
Divisional Str ucture Some organizations run as a number of divide, autonomous business units, synchronized by a central headquarters. This is a divisional structure.
according to Tobin 1993,examples of Keynesian unemployment includes situation where
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