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meaning of opportunity cost under theory of cost
summary of general equilibrium
How does planning serve as a solution to economic problems?
How might a country exchange rate influence the balance of payments? Definition of the exchange rate; price of domestic currency in another (basket of) currency (currencies). C
FIXED EXCHANGE RATE SYSTEM: National currencies are generally acceptable within the geographical boundaries of a country. As such, trade between countries typically involves
How to calculate new profit earn by a firm in oligopoly if another firm cheat
an explanation of the meaning of price ceiling
Fixed input and variable input: A fixed input is that input whose quantity cannot be varied in the short-run when demand conditions require an increase or a decrease in produc
ways of imroving productivite
Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
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