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equilibrium of production
illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination
(i). A firm's costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6. (ii). The following are est
how to find least cost combination of factor inputs given the production
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
A portion of the demand schedule for wax candles (per case) is shown below. Px $50 $30 $10 Qx 500 600 700 What is the demand curve (straight line) that corresponds to the schedu
unique product
Market-Friendly Reforms: One main shortcoming of present development cooperation is that recipients of development cooperation is that recipients of development finance are d
1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
Division of labour: Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be
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