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Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
find equilibrium level of income
Explain what the natural rate of unemployment is. It is necessary here to include a solid explanation based on economic concepts. The natural rate of unemployment is the rate o
when average product is decreasing, marginal product is?
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
explain diagrammatically the bains model of limit pricing.
why the PPC curve slopes downward?
Perfectly Competitive Markets * Characteristics of Perfectly Competitive Markets 1. Price taking 2. Product homogeneity 3. Free entry and exit * Price Taking
what is marginal cost
the difference between an lc3 and other types of businesses is that
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