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What is productivity?
Productivity or average product (AP):
It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can be demonstrated as output per worker or output per hour worked.
Raising chickens requires several types of feed, such as corn and soy meal. Consider a farm in the former Soviet Union. Try to describe how decisions on the number of chickens to b
if a 10% decrease in the price of product A brings about a 3% increase in the sales of product B, then a. product A and B are complementary b. the cross elasticity of demand
You are given the following information about an economy: Gross Investment = 40 Govt. purchases of goods & service =
Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 - 2.5 P and Qs = - 20 + 1.5 P respectively. The equilibrium price and quantity is
Diagramatic explanation of pareto optimality
explain the model
2. Given the following information: Consumers are very optimistic about the future. The price of oil has just doubled. The money supply is growing at a 6% rate. The government has
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benefit of GDP
DETERMINATION OF FACTOR PRICES BY SUPPLY AND DEMAND Let us suppose that perfect competition prevails in the goods and the factor markets. In such a situation let us see how th
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