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What do learn by study the supply curve concepts?
a. The relationship in between quantity of inputs and output
b. Why production is frequently subject to reducing returns to inputs
c. What the different forms of a firm’s costs are and how they produce the firm’s marginal as well as average cost curves
d. Why a firm’s costs may be different in the short run versus the long run
e. How the technology of firm of production can produce economies of scale
Q. Describe Endogenous growth theory? Endogenous growth theory or new growth theory was developed in the 1980s by Paul Romer and others. In neo-classical model, technological p
Between 2007 and 2009 the U.S. economy experienced a severe recession. In an effort to stimulate the economy, the federal government passed a stimulus package. Explain the federal
If the reserve bank wants to pursue a contractionary policy, what should it do?
what is economic laws ans characteristics of economic laws?
Frovea's currency is called the fromark, and Olympia's currency is called the olymark. In the market in which fromarks and olymarks are traded for each other, the supply of and dem
ChoppinAxe is a small Swedish firm that produces wood planks and operates in a perfectly competitive market. Every firm in the market has the following total cost function: C(qi
What are the four managerial factors that lead to diseconomies of scale
If there is an increase in the popularity of video games and more companies making video games, then the following is true? A) Sales of the games will be uncertain. B) Price will g
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Potatoes cost Janice $0.50 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. Suppose she feels that the first pound of potatoes is worth $1.50,
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