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explain abnormal profits and normal profits
write characterstics of duopoly
Economies of Scale The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discoun
A monopolist faces the inverse demand for its output: p = 30 – Q The monopolist also has a constant marginal and average cost of $4/unit. The government is seeking ways to collect
(a) What are the problems associated with R 2 and how can adjusted R 2 solve them? (b) If the regressors in an equation are highly correlated, which measures can be used to
BACKGROUND: You have been promoted to the position of Vice President in a business consulting firm. This firm provides business consulting to a variety of businesses. The presi
define real and nominal wages
whit is mean super normal profit
#• The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
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