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How is microeconomics differed from macroeconomics?
Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For example, how much this would cost for a university or college to give a new course? (Involving the cost of the instructor’s salary, the classroom services and the class materials, and many more). Having found about the cost, the school can after that decides whether to offer the course.
1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6. i. P= 40 - 0.5Q ii. Q= -40 + 0.75P iii
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Ask question #Min1) Illustrate and explain the changing demand for big Mac using the indifference curve and budget line.imum 100 words accepted#
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. What would answer be
I wanted to the fixed and variable costs of breadtalk in singapore from economic perspective
Discuss MO theory in detail?
7.Consider the following production possibilities table: Option Y X A 0 100 B 80 80 C 120 50 D 140 10 a)Provide a measure of the approximate marginal opportunity cost of
Elimination of waste - Stock Management Here is a definition of the elimination of waste: Anything other than the minimum amount of equipment, material, parts and working t
Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o
explain normal profits
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