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Difficulties in Measuring Cost
1) Output data may represent an aggregate of different type of products.
2) Cost data may not include opportunity cost.
3) Allocating cost to a particular product may be difficult when there is more than one product line.
* Cost Functions and the Measurement of Scale Economies
- Scale Economy Index (SCI)
BUREAUCRATIC PROBLEMS: Bureaucratic problems encountered as hurdles in the implementation of economic policies are listed below: • Low levels of efficiency, effectiveness,
Aggregate household indebtedness: This is the purchasing power of the sum of money outstanding that households have borrowed and are currently obligated to repay. If household
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
what are the advantages of monopsony?
Illustrate the Economic Growth Up until 1800 growth rates of human populations were glacial. Population growth between 5000 B.C. and 1800 averaged less than one-tenth of a perc
primary reference electrode,she
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aid of production possibilty curve
What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss
1- Suppose the economy is currently in recession, and the exchange rate if fixed using the IS-LM model. a) explain and illustrate the economy adjustment ( in the medium run)
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