What is mean by mariginal cost? What do you understand by micro economics? What do you mean by macro economics? What is supply? What is the basic difference in between supply and demand? what...
Economies of scale: Economies of scale refers to the situation where long-run average costs fall as the scale of production is increased. If all factor costs are constant, then increasing returns to scale...
We need to know Pareto improvement to understand Pareto Optimality/Efficiency. Pareto Improvement If we can find a way to make some people better off without making anybody else worse off, we have a...
Every Economy is a Keynesian Model right now but not to increase the Aggregate Demand but to control the Pandemic. As the saying goes, the rule of war never changes, it's the weapons that change. So post...