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What is opportunity cost?
Answer: Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity foregone (and the advantages that could be received from that opportunity), or the most valuable foregone alternative. For instance, if a city decides to build a hospital on vacant land that it owns, the opportunity cost is some other thing that may have been done with the land and construction funds instead.
explain budget line?
How to calculate: fixed cost is $1,000,000 tvc $4,400,000, avc is $22, atc $27, worker productivity is 4. How do I calculate the profit or loss?
Selective in Exports: There are many industries where India has an advantage because of relatively lower costs of all forms of manpower whether it is professional or factory l
The Schrodinger wave equation generalizes the fitting-in-of-waves procedure. The waves that "fit" into the region to which the particle is contained can be recognized "by inspect
Using the Wage Rate and Output per Hour as indicated on the table below, calculate the output per dollar wage and unit labor cost. Then decide on the optimal wage rate for this c
Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
What is the purpose of the IMF and why might the IMF be called the “lender of last resort”? Discuss how three of the tools they use for establishing economic stability in a country
trend and structure of national income in nigeria
#1 explain with the aid of diagram the effect of an increase in demand for palm oil on the equilibrum position for palm kernel
not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to
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