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Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in
ExplainBainlimitpricetheory
Problem: (a) "Economics is the study of how society decides what, how and for whom to produce". Describe the importance of opportunity cost to a society. (b) Distinguish bet
can average labor productivity fall even though total output is rising
1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm ha
Factors determine the price elasticity of supply: The price elasticity of supply varies widely across different products. Some products have more leastic supply, while others
What are the major differences between the equilibrium of profit maximiser and sales revenue maximiser?
what is the explanation about supply analysis?How to understand?
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
definition of abnormal isoquant and normal isoquant
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