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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
Explainbainlimitpricetheory
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co
What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like
total revenue
What is law of combination
scope of microeconomics
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