Problems using point elasticity, Problems Using Point Elasticity - We m...

Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi

Crop patterns, CROP PATTERNS: Analysis of crop patterns in India shoul...

CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects:  a) The relative significance of different crops/crop groups in the overall area u

Stoichioemtry and moles, How would you convert from moles of iron(III) oxid...

How would you convert from moles of iron(III) oxide to moles of carbon monoxide?

Managerial economics, A company a product using labor (L) and raw material ...

A company a product using labor (L) and raw material (R) with Q = 80L^0.2 R^0.8. If labor costs $20 per hour and raw material $40 per unit, what is the optimal combination (least c

Managerial economies, Managerial Economies: These are many managerial...

Managerial Economies: These are many managerial economies associated with large-scale production. A large firm is in the position to employ more highly qualified and speciali

The lower the value MR of monopolist ,

Theory of Consumption, llustrate and explain the changing demand gor big Ma...

llustrate and explain the changing demand gor big Mac using the indifference curves and budget line

Market failure, Ask question using health care as an example explain how ma...

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

Describe price elasticity, Time is a significant determinant of price elast...

Time is a significant determinant of price elasticity.  If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac

Average level of nominal prices, Price Level:Overall average level of nomin...

Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting