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What types of questions would concern microeconomics, versus macroeconomics?
Microeconomics concerns itself with decision-making of individual consumers, firms and other organizations, such as how much to consume or produce of a product, whereas macroeconomics deals with aggregate production and expenditure, the level of unemployment, inflation, and interactions with the global economy.
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
Rationale of Group Project Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations.
You are examining the effects of a specific tax of 10 cents imposed on the sales of a product that we shall call XYZ. To carry out your analysis, assume that the market is a perfec
Duopolist P=20-0.1Q where Q=QA+QB CA=QA CB=0.1QB2
Mg(OH)2 + 2HCl-----> MgCl2 +2H2O how many grams of magnesium chloride can be produced from 14.60mL of a 0.546M hydrogen chloride solution?
Where the equation of isoquent drived from?
Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices - The formula of it is: * Arc Elasticity of Demand: An Example
how to calculate growth rate in closed economy
Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
explain the fundamental task of economic system usin tomatoes as an example
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