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A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
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
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
ECM101 – MICROECONOMIC POLICY ASSIGNMENT 1 General Guidelines: This assignment comprises two sections and you must answer all questions in each section. Answers must be explained
opportunity cost
The table shows the demand schedule of Taylor Swift’s concert ticket. Draw the demand curve for her concert ticket
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
identify and discuss four major managerial factors that lead to dis-economies of scale
Development plan: A Development Plan is a document which contains a policy framework and programme of development for a time period for a country. It sets out the general meas
two or more variable inputs
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