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How is supply related to opportunity cost?
What is a firm
I am given that demand formula P=150-3Q, am told I only have 40 tickets to sell and that the MC=0 and I am suppose to figured out how many tickets to sell to maximize total welfare
Suppose an oligopoly consists of three identical firms. Industry demand is P = 100 - 2Q and MC = AC = 20. What is the Cournot–Nash equilibrium output in this industry
how does the buying and selling of stock fit the model for perfect competition?
What are economic sectors? For the functions of analysis the production of goods and services can be classified in four groupings as given below: a. Primary sector b. Se
#questDuring the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in ter
What are the major problems in measuring national income? The major problems in measuring national income: a. Unreliable statistics data collection is costly and the figu
Problem 1: (i) Assuming a Cournot duopoly where the market demand is estimated as: P = 100 - Q The marginal cost is estimated to be constant at Rs. 10 for the two fir
What is suitable technology? Technology is suitable when this employs methods which make the best use of accessible resources that is labour-intensive, straightforward techniqu
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