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What are constant returns to scale?
Constant returns to scale:
A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a reasonable assumption to make concerning technologies. Decreasing returns to scale implies that doubling inputs are less than doubling outputs. And also increasing returns to scale implies that doubling inputs are more than doubling outputs.
What is the purpose of the IMF and why might the IMF be called the “lender of last resort”? Discuss how three of the tools they use for establishing economic stability in a country
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The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?
if tc is 200 what will be marginal cost?
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State trading is often associated with canalisation. Canalisation means estaolishment of state monomply in foreign trade. In other words, an item that is canalised can be imported
With the recession, average incomes have fallen from $44,375 to $41,720. Before the recession Groucho's Gizmos sold 600 gizmos a month. As an economics, predict the number of gizm
how can draw the table and diagram of production function function with one veriable
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plot the demand schedule and draw the demand curve for the data given for marijuana in the case above
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