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    An economic union requires giving up some political autonomy to succeed. What are some examples of political power countries must give up to be members of an economic union?

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Questions & Answers

suppose you are the manager of a perfect competitive firm. your total cost of production is given by TC=100+Q2 suppose you are told that the price of their services is $60 1. how much output should you produce to maximise profit? show calculations 2. determine the level of profit
Niza Reply
what is price control
Raphael Reply
importance of scale of preference
Offei Reply
what are the factors that affect international organization
Imeobong Reply
Organizational structure,communication,mission
Ogunsola
what is international organization
Imeobong Reply
discuss how international organization affect business in Nigeria
Imeobong
An international organization is an organization with an international membership, scope, or presence.
Avishek
thanks
Imeobong
importance of scale of preference
Offei
demand curve
Raphael
demand uuu
Raphael
uu
Raphael
supply curve
Raphael
what is price control
Raphael
what are the factors that affect demand and commodity
Beatrice Reply
if a firm stays on the same isoquant it means ? a. output missteps decrease b. output must stay. the same c. output must increase d. quantity of labour and capital employed must remain the same e. none
Niza Reply
A
Were
A
alyssa
B
SEMAN
A
Darren
B
Bertilla
D
Romeo
which one is the right answer pls
Bertilla
😂😂😂😂
Niza
it's bad
Niza
B
Foley
d
Fasae
b
Alicia
a
Mohammed
hi
DINA
d
DINA
d) none. because isoquants meant different combination of inputs give same level of out and higher the isoquants gives higher the level of output
ezhilarasan
okay
Bertilla
answ. d.quantity of labour and capital employed must remain equal
mohamed
d
Ayoka
B
jephter
analyse this table showing how this affect the law of diminishing demand return
michael Reply
What are diminishing marginal returns as they relate to costs?
michael
what are diminishing demand
Bertilla
please can you explain it to me because am new to economics
michael
the law of diminishing state that as more and more variable factor is added to a fixed cost, it will increase first and later its begins to fall until its get to zero. that were ur mc equal to zero
Fasae
thanks dr
Bertilla
The law of diminishing demand states that, if the price of a product is raised, a smaller quantity will be demanded and if the price of a product is lowered, a greater quantity will be demanded.
Were
The law of diminishing returns, also referred to as the law of diminishing marginal returns, states that in a production process, as one input variable is increased, there will be a point at which the marginal per unit output will start to decrease, ceteris puribus
Were
guys I need to know what is meant by basic economic mathematics and explain please
Lovemore Reply
It's also the usage of mathematical tools to express and analyse economic problems.
Rasaq
so basically it's the use of mathematical formulas to solve the problems under demand and supply right...
Lovemore
Yes, though economic analysis majorly has to deal with demand and supply forces in fact the back bone of economics rest on demand and supply but there are other functions like consumption function, implicit ,explicit, monotonic( constant, increasing, decreasing), transcendential, homogeneous, polyn
Rasaq
wat improvement do economic has with our life
Aminata Reply
it help us how to use our limited resources to satisfy our unlimited wants
Pagnol
Economics assit in understanding the pre-requisite for Growth and developmen and how the workings of the economy operates.
Rasaq
Economic helps us to manager our limited resources, how to expand it, etc over unlimited want
Eagle
Economics is the social Science in which we study how scarce resources are allocated for the betterment of human being.
Ali Reply
what is equilibrium point
Happiness Reply
where price and quantity demanded meet
Pagnol
is the point where price an quantity demanded meet
Aminata
why do consumer demand curve tend to move downward slope
Aminata
Equilibrium point is the point at which quantity demand equals quantity supply.
Rasaq
What is monopoly
Ezekiel Reply
Is a strict example of an imperfect market where there is only one seller and many buyer for a particular product.
Rasaq
what is economics
BUKENYA Reply
economics us behavior. Of people, nations, markets etc. It has much to do with reactions. watch MSNBC. Bloomberg. everyday they talk about how the markets react to an piece of news, legislation, interest rates etc. Interesting volatile stuff
TOM
but, it also react with science
ezhilarasan
economic is a science with study's the behavior of people,market and price
Bertilla
it's a science which study the behavior of people ,market n price
Bertilla
What is opportunity cost?
Junior
opp. cost~a benefit, profit or value of something that must be given up to acquire or achieve something else
Kim
or something that you foregone
Kim
who is the father of economic
Yirtutey Reply
Adam smith
shaikh
modern father is Adam smith
Bilal
Adam smith
Nazifi

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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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