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Relation between TP and MP:
Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure.
See that
Relation between TP and AP
Given the TP curve, AP is the slope of a ray from the origin to any point on the TP curve.
A Period of Deterioration: The entire period was very difficult for India's BOP, partly because of slow growth of exports in relation to import requirements and partly because
do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
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example of marginal opportunity cost
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What are the advantages of trade surplus
Suppose a firm faces two markets for the same product. In market A, the demand function is PA=60-QA, while in market B the demand function is PB=36-0.5QB. The total cost function i
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