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What are the possibilities of returns to scale in production technology?
Three possibilities are there as: technology exhibits (a) constant returns to scale; (b) decreasing returns to scale, and (c) increasing returns to scale. Properly, we have (global) returns to scale. There production function f (x) is demonstrates as:
a. constant returns to scale when f (tx) = tf (x) for all t > 0;
b. decreasing returns to scale when f (tx) < tf (x) for all t > 1;
c. increasing returns to scale when f (tx) > tf (x) for all t > 1;
Comment on the current account trend since 2013 till 2015
#question.Now suppose nation A has RA resources in its treasury and nation B has RB resources. The winning coalition in each nation is WA and WB respectively. Leaders want to survi
Draw the suitable graph for each situation and describe a real world situation in health care in which the market structure utilized in the question may exist. Demand: P=6,000-0
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demand for two market are P1=15-Q1&P2=25-Q2.the monopoly TC is C=5+3(Q1+Q2).What are ,output,profit&MR if the monopolist can price disc? riminate
Physical Capital: A tangible tool, machine, building or other productive asset that is used to produce other goods or services. Pollution: Many economic activities involve disch
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
on what grounds is consumer surplus criticised?
what to produce? how to produce? for whom to produce
Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government
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