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What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
Given the cost function as C=0.3Q3 -2Q2 + 13Q + 25, find the supply function.uestion..
illustrate and discuss the implications of various markets structures(competitive and non-competitive) for price dertimation
Institutionalist Economics: A school of heterodox economicsthat emphasizes importance of institutional development and evolution (as opposed to ‘pure' market forces) in explaining
Derivation of compensated demand curve: Hicksian compensated demand function for x 1 is given by x 1 =x 1 (p 1 , p 2 , U), where Hicksian compensated demand curve for a good
#question.hif indirect utility function is givenhow to derive the demand function .
Jane receives utility from days spent travelling on vacation domestically(D) and days
determination of interests rates in classical system
Define Amagat law of partial volume, Amagat law of partial volume The total volume of a mixture of non reacting gases at constant temperature & pressure is equal to sum of indiv
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