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ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
what is ''Prisoner''s Dilemma'',of non-cooperative game?estion..
why value of marginal product is negatively sloped
Expected Utility: Theory Assume that a utility index exists which conforms to the five axioms. The expected utility for the two-outcome lottery L = (P, A, B) is given by,
demand for two market are P1=15-Q1&P2=25-Q2.the monopoly TC is C=5+3(Q1+Q2).What are ,output,profit&MR if the monopolist can price disc? riminate
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
problems in traditional economic
Liberalisation of the Economy: Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic
the difference between an lc3 and other types of businesses is that
Technical Economies: They are economies that accrue from the use of large machines with emphasis on full utilization and efficiency in production. First, there are some equip
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