ECONOMICS

A firm is a monopoly if It is the sole seller of its product its product does not have close substitute the market has barriers of entry Thr...

Fixed costs are those which do not vary with the quantity of output produced Variable costs are those which vary with the quantity of output...

Production Function Opportunity cost is of two types Explicit -incurred due to factors of production, requires outlay of money Implicit - Do...

Assignment7 1. It is known that quantity demanded decreases by two units for each $1 increase in price. At a price of $5, quantity demanded...

Things to remember B(hat)= COV(Xi,Yi) ----------- VAR(Xi) ∑(Xi-X)(Yi- Y ) = ----------------- ∑(Xi-X)2 Elasticity = ------------ P (BAR) B(H...