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Identify the four essential economic activities.
The four main economic activities are:
a) resource maintenance,
b) production,
c) distribution, and
d) consumption.
traditional theory of cost
# 1 Question: Consider a competitive market for Berries. The market demand for the berries is Qd=50-P (Qd is the quantity demanded (cartons) and P is the price in $. The market sup
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compare and contrast adam smith''s theory of absolute advantage theory and david ricardo''s comparative advantage theory of international trade.
With the aid of a diagram explain the long run average cost curve and the influences upon it.
compare and contrast between cordinal and ordinal approaches
Demonstrate mathematically that the equilibrium condition MRS PB PA is the equivalent of the utility-maximizing rule MU AP A MU B PB .
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