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what are the relevance of economics to most business today??
Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}. Your marginal cost of production is $2.50. What is the profit-maximizing price? Using this
Sources of monopoly power: The main sources of monopoly power include the following: (i) Control of the entire supply of a basic input . It only one firm has access to or co
What is the difference between MRTS & MRS?
9. The average supernormal profit for the firm is
In year one, suppose the federal government has no national debt and spends $100 billion, while raising only $50 billion in taxes. The U.S. Treasury will issue $ billion of governm
discuss the problems of measuring productivity in actual work situations. how might productivity be measured for each of the following industries: education, government and manufac
unique product
Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
when total production fall what,s the status of average product and marginal product
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