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Questions (i) You are an industry analyst. Last year, the production cost of Microprocessor increased remarkably due to labor unionization. Nevertheless, the industry experie
Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com
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Illustrate the content in the rational consumer? Content in the rational consumer: a. How to spend income onto goods and services? b. Why maximizing usefulness? c. Wh
detail of consumer surplus with examples
Suppose we divide Canada into three regions; the west, the centre and the each
what is break even quantity
characteristics of microeconomics
Assume in the Solow growth model that s=.25, n=.02, d=.08, and f(k)=k^3. A) Assume that z=2. What is the steady state level of capital per worker and consumption per worker?
explain the concept economies/diseconomies of scale and minimum efficient scale
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