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The term Micro Economics is derived from the Greek word “mikro- meaning "small. It is studied as a part of the Economic Study. As against the macroeconomic study which consists of studying the economic activities in totality microeconomics deals with the effects of nation’s economic policy on of growth, inflation, and unemployment etc.
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A firm has the following revenue and cost functions. Determine the quantity level at which the firm maximizes its total profit. Answer in progress... Suppose the majority of the residents of Birraland live close to the border and have access to beer at a lower price either in another province or in a neighboring country.
Last Update: Oct 2021
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