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1. Explain how absolute advantage and comparative advantage differ? 2. Give an example in which a person has an absolute advantage in doing some thing but another pers
Suppose that the price of schooling is $20 per year of schooling and it suddenly rises to $40. Compute the point price elasticity of demand at the initial price level and at the fi
why raise MC cost after minimum level ?
What are the problems of interest for several reasons in cost minimization? Cost Minimization: A significant implication of the firm choosing a profit-maximizing producti
Consider that the government tells a large monopolistic firm that maximizes profits that it has to pay a fee to the Reelect the President Committee same to one third of its total p
factor influencing quantity supplied
Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
discuss the significance of paration research
what to produce? how to produce? for whom to produce
What are the types of demand
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