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why we study micro econmics?
Methodology of econometrics involving three stages 1. Specification of the model using a specific stochastic equation, together with a priori theoretical expectations about th
how do I find the marginal value product?
if you were making the pricing decision for the gasoline company, would you cut, raise or leae the price unchanged
"Consider a market with n firms occupied in Bertrand competition. These firms have in common dissimilar marginal costs but any number of them may also have equivalent marginal cost
assignment of demand thorey
Illustrate and discuss the impliction of various market structures(competitive and non-competitive)
diffence b/n fixed and variable input
1. Assume that the market for wheat is perfectly competitive. Suppose the demand curve for wheat is given by: QD = 200 – 2P where QD is the quantity demanded, in bushels, and P i
what is equilibrium
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