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How to find the total cost in economics and what factors should be considered in the calculation"?
To find the total cost in economics, add up all the expenses incurred in producing a good or service. Factors to consider in the calculation include fixed costs, variable costs, and opportunity costs. Fixed costs are expenses that remain constant regardless of production levels, while variable costs change with production. Opportunity costs refer to the value of the next best alternative foregone.
How do you calculate elasticity and what factors are considered in the calculation?
Elasticity is calculated by dividing the percentage change in quantity by the percentage change in price. Factors considered in the calculation include the availability of substitutes, necessity of the good, and time period under consideration.
What are the key factors influencing the cobb-douglas demand function in economics?
The key factors influencing the Cobb-Douglas demand function in economics are the prices of the goods or services, the income of consumers, and the preferences of consumers. These factors determine how much of a good or service consumers are willing and able to purchase.
Why is economics a behavioral science?
Economics conceptualizes a world populated by calculating. In traditional economics it ignores all the behaviors studied. However, behavioral economics or behavioral fiance studies the effects of social, cognitive and emotional factors of the economic decisions of others. Therefore, this subcategory would be considered a behavioral science rather than a social science.
What economic factors are excluded from the calculation of GDP?
Some economic factors excluded from GDP calculation include non-market transactions, underground economy activities, and environmental impacts.
What factors are considered in the residence time calculation for a chemical reactor?
In residence time calculation for a chemical reactor, factors such as reactor volume, flow rate of reactants, and reaction kinetics are considered. These factors help determine the time it takes for reactants to stay inside the reactor and undergo the desired chemical reactions.
How to find the total cost in economics and what factors should be considered in the calculation"?
To find the total cost in economics, add up all the expenses incurred in producing a good or service. Factors to consider in the calculation include fixed costs, variable costs, and opportunity costs. Fixed costs are expenses that remain constant regardless of production levels, while variable costs change with production. Opportunity costs refer to the value of the next best alternative foregone.
How do you calculate elasticity and what factors are considered in the calculation?
Elasticity is calculated by dividing the percentage change in quantity by the percentage change in price. Factors considered in the calculation include the availability of substitutes, necessity of the good, and time period under consideration.
What are the key factors influencing the cobb-douglas demand function in economics?
The key factors influencing the Cobb-Douglas demand function in economics are the prices of the goods or services, the income of consumers, and the preferences of consumers. These factors determine how much of a good or service consumers are willing and able to purchase.
How to calculate thermal diffusivity and what factors should be considered in the calculation?
To calculate thermal diffusivity, divide the thermal conductivity of a material by its density and specific heat capacity. Factors to consider in the calculation include the material's composition, temperature, and physical state.
What factors are considered in a bicycle appraisal to determine its value?
Factors considered in a bicycle appraisal to determine its value include the brand, model, age, condition, components, frame material, and any unique features or modifications.
How is wOBA calculated and what factors are considered in its calculation?
wOBA, or weighted on-base average, is calculated by assigning different weights to various offensive events based on their impact on scoring runs. Factors considered in its calculation include walks, hits, hit by pitches, and extra base hits. The formula for wOBA takes into account these factors to provide a more accurate measure of a player's offensive performance.
What factors are considered in a music instrument appraisal?
When appraising a musical instrument, factors such as the instrument's age, condition, rarity, brand, provenance, and market demand are considered to determine its value.
What factors determine if a particular situation is considered a borderline case?
A particular situation is considered a borderline case when it possesses characteristics that make it difficult to clearly classify or define. Factors that determine this include ambiguity, uncertainty, and the presence of conflicting or overlapping attributes.
What factors are considered to determine the speed of the cars?
power, air resistance quotient and gearingType your answer here...
What factors should be considered to determine the affordability of loans?
To determine the affordability of loans, factors such as the interest rate, loan term, monthly payments, total amount borrowed, and the borrower's income and expenses should be considered. These factors help assess whether the borrower can comfortably repay the loan without financial strain.
How do you calculate pressure in a pipe and what factors should be considered in the calculation?
To calculate pressure in a pipe, you can use the formula: Pressure Force/Area. Factors to consider in the calculation include the flow rate of the fluid, the diameter and length of the pipe, the viscosity of the fluid, and any obstructions or bends in the pipe that may affect the flow.
