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If one person can produce 1 fish and 10 oranges per hour and works 5 hours a day.another person can produce 2 fish and 20 oranges per 2 hors and works 8 hurs a day then who has the
Which firm has the greatest minimum efficient scale?
What are economies of scale and diseconomies of scale? In economics, returns to scale and economies of scale are terms that are related and sometimes incorrectly used intercha
concept of supply and the factors that affect the supply
Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
What are the costs and difficulties of such an operation? The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation,
elasticity of demand of a product in different market forms such as perfect competition, monoply etc.
International Monetary Fund: The International Monetary Fund (IMF), the World Bank and the International Trade Organisation were conceived at the Brettonwoods Conference in Ju
how does economics bridge the gap between economic teory and practise
If the price of that cup of teh-tarik has increased in such an amount,economists may not necessarily conclude that the country is going throungh inflation.why is that so?
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