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xyz ltd has a record of supply of 1,000 units on an average per month in the market which creates an equilibrium size of 30 rupees its unit if the company increases the supply of 2008 more will the equilibrium price change explain the law causing the change
If the price of powdered milk, a substitute for fresh milk, falls then A. the supply curve of fresh milk will shift to the right. B. the demand curve for fresh milk will shift to the right, C. the equilibrium quantity and price of fresh milk will not change. D. the quantity of fresh milk demanded will increase. E. the demand curve for fresh milk will shift to the left.
When does the Government impose a price ceiling?
Your community newspaper, The Xpress, has fixed production costs of K70 per edition, and marginal printing and distribution costs of 40n/copy. The Xpress sells for 50n/copy a) Write down the associated cost, revenue, and profit functions. (6 marks) b) What profit (or loss) results from the sale of 500 copies of The Xpress? (2 marks) c) How many copies should be sold in order to break even?
Define opportunity cost:
Consideration of situation factors in determining the optimal location for a new factory could refer to ... . (1) minimization of the cost of transporting inputs to the factory (2) labour costs, in the case of a labour-intensive industry (3) availability of suitable land to build the factory 4)) access to capital to establish the factory (5) the costs associated with factors of production inside the plant
What is the law of diminishing marginal product?(3 marks) a. In which stages of production it manifest. b. What is the logical justification for the law of diminishing marginal
The income elasticity of demand for good measures the responsiveness of _____to a change in ______