#title.quensirent theory., Microeconomics

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Economies of scale, what are the limitations of economies of scale?

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Total cost function, TC = Q3 – 8Q2 + 68Q + 4, get the median and mode

TC = Q3 – 8Q2 + 68Q + 4, get the median and mode

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Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases

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Composition of Trade: It is indicative of the structure and level of development of an economy. For instance, most of the UDCs depend for their export earnings on a few primar

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Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand

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what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?

Bertrand paradox, Consider the following duopoly with differentiated goods ...

Consider the following duopoly with differentiated goods where x 1   and  x 2   denote the amounts of the goods 1 and 2  respectively, with prices p 1   and  p 2 . The demand funct

Calculate toms price elasticity of demand, Tom's pizza sells for $ 5.00 ea ...

Tom's pizza sells for $ 5.00 ea and serves an average of 425 customers per week. During a recent sale, Tom lowered the price to $ 4.00 per ea. Sales increased to 500 customers duri

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Gdp price level, GDP Price Level At the equilibrium level of income agg...

GDP Price Level At the equilibrium level of income aggregate spending in the economy equals aggregate output. All along, we have assumed that the general price level remains un

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