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Explain the difference among a floating and managed exchange rate.
The key distinction here is that a floating exchange rate is set by market forces, i.e. supply and demand. A managed exchange rate - defined perhaps as an adjustable peg or simply pegged exchange rate regime - will see how the rate is set by central bank policy and upheld by intervention purchasing/selling of the domestic currency.
discuss the different of cost?draw the cost curves
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Explain the law of diminishing marginal returns using the example of a factory which is currently running at half capacity and employs more staff
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