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What defines the fact that the value of global production has grown by a factor of 4.6, while the value of global production per capita has grown by a factor of 2?
The enhance in global production has not kept up with the growth in global population
What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of
Consider a person''s decision problem in trying to decide how many children to have. Although she cares about children and would like to have as many as possible, she knows that ch
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
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
TC = Q3 – 8Q2 + 68Q + 4, get the median and mode
Question: Third degree price discrimination Suppose that a monopolist faces two markets with demand curves given by D(p 1 ) = 100 - p 1 D(p 2 ) = 100 - 2p 2 Assume that
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
concepts of suply
what is Microeconomics?
Economics and Ethics : Morality and ethics are powerful motivations to behavior. Thouh, economists suppose that rationality is a function of demonstrable self-interest. That mean
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