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Fixed input and variable input:
A fixed input is that input whose quantity cannot be varied in the short-run when demand conditions require an increase or a decrease in production e.g. factory building, capital equipment, some skilled labour, etc. a variable input on the other hand is that where quantity can be changed in all times of production when demand conditions change to require a change in production e.g. raw materials, electrical power, unskilled labour, etc.
Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu
the full detailed of market structure their characteristic ,sources with clear explanation
Regardless of the market structure, oligopolist and the monopolist maximize their TR when MR=0. Do you agree?
give me three exceptional supply curves
Determine the Returns to Scale Use the following production function and budget constraint to answer the questions below. Q = L + K 1000 = 2L +
Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
A monopolist''s demand curve is P=100-2q. find his MR function. at what price is MR zero
Processors of aseptically packaged juice-based beverages must adequately heat their product before packaging it in order to be sure that they have “killed” the microorganisms which
what is micro economics
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