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What is the difference between 'Capital' and 'Capital value'?
"The total amount of money or other resources owned or used to obtain future income or benefits." On the other hand, 'Capital value' is the present value of a capital good. For instance, a car is a capital and the price of the car is its capital value.
if the marginal production of labor is rising, is the marginal cost of production rising or falling? Briefly explain
Gross Domestic Product, Deflator: A price index that adjusts the overall value of GDP according to average increase in the prices of all output. GDP deflator equals the ratio of no
what is the homogeinity of demand function wrt prices and income
Define the production terminology in short. Production Technology: Production is the procedure of transforming inputs to outputs. Characteristically, inputs consist of labor
Problem 1: How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate. Problem 2: What are the
Why is human capital so important in the development process? Explain human capital in terms of (the sum of) education/training/experience/ literacy etc, and clearly show how t
RELATIONSHIP BETWEEN TFC ,TC ,TVC
Factors Shifting Demand Curve -
Consider two hypothetical nations, Solowia and Growia, which are defeated in wars. These two nations were suffered from wars differently; the damage is on capital stock in Solowia,
What is ceteris Paribus? Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equa
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