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Card 16 / 26:
Return to the problem explained in and . If the cost of labor remains at $40, but the cost of a machine decreases to $50, what would be the total cost of each method of production? Which method should the firm use, and why?
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Questions & Answers
what is rational behavior
defination of perfect Competition
is a type of market form in which their are many companies that sell the same products and service
Modou
current economic plans (MDGS) needs
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What is the importance of study economics
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Kpienta
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Sydney
production
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Price
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Odo
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Isack
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Abubakar
thi can be said to be,the level of joblessness in an economy.
Omar
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jackie
Bethel...explain? please
Abubakar
some one who is willing to work but can't find job
Hawa
unemployment refers to the ability for someone who is capable and willing to work but could not find a job..
Mnoko
some one who not able to find a job
Dennis
please what is the secret of learning?
thomas
explain the various types of cost curve
Short-run average fixed cost (SRAFC)
Short-run average total cost (SRAC or SRATC)
Short-run average variable cost (AVC or SRAVC)
Short-run fixed cost (FC or SRFC)
Short-run marginal cost (SRMC)
Short-run total cost (SRTC)
Romy
what's economic development and growth
what do you understand by Ceteris Paribus?
the external factor will remained constant, except the price
Hasib
everything being equal
Chenwi
explain the uses of microeconomics
uses of microeconomics
Nikita
Adam Smith's definition of economics
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Amjad
this is a situation whereby a nation's outcome or available resources are not enough to the people thereby causing scarcity
Ariel
Source:
OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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