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Why narrowness of definition of a commodity may influence price elasticity of demand
what is Microeconomics?
During its current tax year (year one) a pharmaceutical company purchased a mixing tank that had a fair market price of $120,000. It replaced the an older, smaller mixing tank that
Suppose the demand curve for a consumer for coffee is: Q = 6 – 2P, where Q represents the number of cups per day and P is the price of coffee per cup. Question: Suppose the
given short run total cost curve :10q^2+4q=100 and short run marginal cost MC=20q+4 and market demand Q=100-p what''s the equation of the short run supply curve?
Problem: (a) Given TR = P×Q, Show that Note: TR is total revenue, P refers to price, Q refers to quantity demanded, MR denotes marginal revenue, and ε d shows the p
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Sources of monopoly power: The main sources of monopoly power include the following: (i) Control of the entire supply of a basic input . It only one firm has access to or co
Q. Strength of the multiplier in microeconomics? Multiplier: An initial stimulus to spending (in form of new consumer, business or government purchases) generally results in a
three marginal conditions of pareto optimality
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