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Explain cost output relationship with reference to:a. Total fixed cost and outputb. Total variable cost and output
The only road connecting two populated islands is currently a freeway. During rush hour, there is congestion because of the heavy traffic. The marginal external cost from congestio
the benefits of exchange in the light of the law of association, the introduction of money in direct exchange and way income gets distributed among market participants
Q. Explain the concept of demand function? Identical to the demand theory which pivots around the concept of demand function, theory of production revolves around the concept o
The war on drugs is an expensive battle, as a great deal of resources go into catching those who buy or sell illegal drugs on the black market, prosecuting them in court, and housi
Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact
Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach . This involves adding up
You have been provided with daily data starting in January 2009 on the main New Zealand stock market index, the NSX-50. Choose a suitable model for measuring volatility on the New
assumptions and limitations
How does economic theory contribute to managerial decisions?
TYPES OF BUDGETS 1. Deficit budget If the proposed expenditure is greater than the planned revenue from taxation and miscellaneous receipts, this is a budget defic
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