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What are long run and short run?
Long run:
It is the time period wherein all inputs cannot be fixed.
Short run:
It is the time period within which at least one input is not varied.
The total product curve demonstrates how the quantity of output depends onto the quantity of the variable input, for a specified quantity of the fixed input.
How is economics works with interaction of individual choices? Principles behind the interaction of individual choices: 1. There are gains through trade. • Specialization
what does international trade fails to its claims ?
State the Monetary base and the supply of money - central bank It is not possible for the central bank to print and distribute money - that would increase their debt without i
Why is it important to study the internal resources, capabilities, and activities of firms? What insights can be gained?
For each of the host countries you have selected for examination (PEST-C analysis), conduct a preliminary assessment of the geographic, economic, social-cultural, and political-leg
Researchers have put forth various theories to explain the observed widening of the income distribution in the United States over the past four decades. First, there has been a sh
I would like to know if you guys take up online tests?
illustrate and discuss the market structures competitiveand non competitive for price determination
What is the price elasticity of demand? It is the Defining and Measuring Elasticity. The price elasticity of demand is the ratio of the percent modification into the quantit
Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank
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