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QUESTION
a) Differentiate between returns to factor and returns to scale.
b) In the long-run the Average Cost Curve is u-shaped. Discuss
c) Whenever a firm is making losses it should close down. Do you agree with this statement? You may use mathematical examples to illustrate your answer.
d) Discuss how resource allocation is dictated by consumers' preferences in the market place.
advantages of government grants
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Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
what are the steps in location decision.
What are the social economic factors and non economic factors in the development process? Development is a process including change into a number of social economic and non eco
Define the balance of payments problem in international capital flows. Balance of payments (BoP): It inflows capital as like: • Foreign direct investment (FDI) into machiner
what is the short run and long run effects of a new idea creating by a restaurateur i.e home cooking services in the perfect competitive market?
MC=25+30Q-9Q^2 fixed cost=55 find total cost avarage cost variable cost
in the banking systems, when clearing checks, the difference between the Federal Reserve''s credits and debits is the
Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (
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