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1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm ha
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
The act of production involves the transformation of inputs into output. Production is a transformation of physical inputs into physical inputs into physical output. The output is
If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?
Janet decides to play a game with her children, Jay and Jill (who are fraternal twins) and Mo. Each child is in their own room and cannot communicate with each other. Suppose Jill
Infrastructure : Infrastructure plays an important role in the development of an economy. The adequacy or lack of it determines an economy's success or failure in increasing p
differential rents..
Suppose that the price of schooling is $20 per year of schooling and it suddenly rises to $40. Compute the point price elasticity of demand at the initial price level and at the fi
suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic
Q. Explain about Contingent valuation? Evaluation of willingness to pay for a specified environmental resource or a change in the resource, through use of structured questionna
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