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Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
what is isoquant ?
Production without capital is hard for us even to imagine. Nature cannot furnish goods and materials to man unless he has the tools and machinery for mining farming forestry fishin
calculate point elasticity of demand function Q=10-2p for decrease in price from Rs3 to Rs2
Explain the graph as their is an increase in income
Suppose the price elasticity of demand for extra dark chocolate truffles is -6. Hold other things constant , if price for Extra Dark Chocolate truffles is decrease by 3%, what wil
(a) Suppose Scientists discover that eating soybeans prevents cancer and heart disease.
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
Trends in the Growth of Production and Productivity: From an analysis of the trends of growth of production and productivity of agricultural sector as a whole and of differen
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