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The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a demand by its employer. In other words, the demand for any factor of production is the list of the value of its marginal productivity.
please may you explain this concept
Sally recently finished her full time training and received certification as a nurses aid at the end of august.
Long-Run Versus Short-Run Cost Curves What happens to average costs when both the inputs are variable versus only having one input that is variable (short run)? The Inflexi
economic problems are faced by all types of economies but they are dealt with differently in different types of economies.discuss
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
1. By using the Production possibility Curve (PPC), analyze the microeconomic theories such as scarcity, choices and opportunity costs. Provide relevant graph with numerical exampl
Where the equation of isoquent drived from?
Discretionary Fiscal Policy: Some government taxing and spending programs can be adjusted by government in response to changing economic circumstances. These discretionary measures
Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as it desires at the current mark
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
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