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Functions of the WTO: The WTO performs the following functions: • It administers through various councils and committees the 29 agreements contained in the final act of
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
Aggregate Supply When referred to in the circumstance of GNP or GDP, aggregate supply refers to the labor and capital needs to proceeds the level of products and services need
Question 1: i) Elaborate on the different types of price discrimination that a monopolist may use and what are the required preconditions for its application? ii) What dete
what is bains theory ? describe with the diagram
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Explain what economies of scale are and why they have become increasingly common in later years. Economies of scale - Enhance in fixed factors, but output enhances at a propo
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
Law of mass action states that at a constant temperature rate of a chemical reaction is directly proportional to product of active masses of the reactants raised to the power equal
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