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A firm has a short-run production function defined by:
Q = -. 02L2 + 8L
What is the short run demand curve for labour (L) in terms of the market wage rate (w), if the firm can sell all its output at $5 per unit?
cartels model of collusive oligopoly
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What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
what is reciprocal demand?
what are the types of economic analysis
Explain what economies of scale are and why they have become increasingly common in later years. Economies of scale - Enhance in fixed factors, but output enhances at a propo
Problem: (a) Why is an error term added to a regression and explain its importance in the OLS procedure? (b) Suppose we have a linear equation with a constant term, one expl
difference between the cardinal analysis theory and ordinal theory
if tc is 200 what will be marginal cost?
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