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Q. Explain General Equilibrium?
General Equilibrium: Neoclassical economics presumes that production, employment, investment and income distribution are all determined by a condition of equilibrium (with demand equalling supply) in each single market (including markets for both factors of production and produced services and goods).
Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
meaning, scope, nature
objestive of williamson modle
what is law of variable proportions?
What defines the fact that the value of global production has grown by a factor of 4.6, while the value of global production per capita has grown by a factor of 2? The enhance
Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50 and each pencil costs $0.10. She is thinking about buying 6 pens and 20 pencils. The last pen would add five time
Explain why subsidies to domestic firms act as a trade barrier. A trade barrier is broadly explained as any market intervention whereby the ratio of price of exports to price o
my q is dat how can we find mathematically dat a production function is concave?
how measure the inflation
INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
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