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Is it possible for a firm to experience a technological change that would increase the marginal product of labor while leaving the average product of labor unchanged?
EXCHANGE RATE SYSTEM: It is interesting to look at a case study of a country like India for several reasons: first it is a small country in terms of imports and exports as a p
Black Economy Public Policy Interface: The above mode of functioning and expansion of the black economy became an important basis for policy disruption in India. The undergrou
The enzymes are highly specific in nature. During enzymatic reaction the enzyme is so built that it binds to the substrate in a specific manner. The stepwise mechanism of enzyme ca
Problem: i) The inverse market demand curve for a Stackelberg leader and follower is given by P = 10 - Q. If each has a marginal cost of $4, what will be the equilibrium qu
A government official announces a new policy. The country wishes to eliminate its trade deficit, but will strongly encourage financial investment from foreign firms. Explain why su
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
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
what is micro economics
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