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If the short run method to produce Q quantity is with full time workers L=0.025*Q, COST OF WORKER IN THE SHORT RUN IS w=20226.154, how do you derive the value of Q
(i) When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3. (ii) Given the demand function 0.1Q - 10 +0.2P + 0.02P2 =0, calculate the price elasticity of
1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l
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Price elasticity of supply – Computes the percentage change in quantity supplied resulting from a 1 percent variation in price. – The elasticity is usually positive as price
how to solve the credit multplier
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
What are the basic analytical frameworks of modern economics? The fundamental analytical framework of modern economics: The fundamental analytical framework for an econom
Use a PPF to explain the difference between actual and potential growth. The PPF shows possible output, taking into consideration all factors of production - but de facto outpu
suppose, as in the federal income tax code for the united states, that the representative consumer faces a wage income tax with a standard deduction. That is the representative con
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