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SHOW MATHEMATICAL EXAMPLE
The following are AC and TC functions for various firms (i). AC = 140/Q + 20 (ii) AC - a/Q = k (iii) TC - 10 =2Q + 0.1Q 2 (iv) TC - k - βQ = cQ 2 Where a, k, β and
Why Have These Economies Converged? By and large economies which have converged are those which belong to OECD: the Organization for Economic Cooperation and Development that w
What is optimal choice of consumer according to consumer behavior? Consumer's Optimal Choice: In the fundamental problem of preference maximization, the set of affo
What is the importance of microeconomics in study of managerial economics? Normal 0 false false false EN-IN X-NONE X-NONE
the short run can be defined as any period of time
Question 1: (a) Describe the different forms that foreign aid may take. (b) Does foreign aid lead to economic growth? Discuss. Question 2: (a) Distinguish between ec
what is reciprocal demand?
Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is officially set at $16.10 per hu
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
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