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The reason that an entrepreneur supposes the risk of starting a business is to earn profits. The fundamental assumption in the theory of production is that a rational owner of a b
1. Cost minimizing firms must be profit maximizing as well. False, why??
Ask question using health care as an example explain how markets fail due to different types of externalities arising from jointness in production and consumption
what are criteria and conditions for pareto optimacy
explain diagrammatically the bains model of limit pricing.
Inflation And Unemployment: Inflation describes a persistent and an appreciable increase in the general price level. The inflation rate is measured as a percentage change in a
Illustrates the key terms of excise tax? Terms of excise tax: a. Tax incidence • Who bears the load of the tax? b. Excess burden or Deadweight loss • Taxes inflict
how does the concept of possibility production curve aplicable in real life?
Services and goods that are used for their ultimate end purpose, meeting some human desire orneed. Consumption may include private consumption (by individuals, financed from their
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