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The 'twice-as-streep' rule states that the curve of the marginal revenue twice as steep is as the demand curve. Therefore, you have to multiply the variable Q with 2 to get the right MR function.
Example:
Qd = 100 + Q
MR = 100 + 2Q
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What are the characteristics of engineering economics?
1. Time value of money 2. Production of size and cost 3. Make or Buy principle 4. Rate if depression 5. Demand & supply including cost 6. Energy prices & Processing cost 7. Economics of alternative method of manufacturing 8. Economics of rule By Asik Ali S
Can I get some help understanding Economics?
@jponbac Gunna Sorry, I'm new here, and I don't know how to post details to the question, so here goes.Name a game you know how to play. List one role that players may have in the game, one official rule, and one property of the game.List a rule, a property, and an outcome in the game of economics.How is the game of economics similar to the games you are used to playing? How is it different?
Economics is the science of scarcity and choice explain?
That description fails to account for the fact that so much human activity under capitalism is matter of being forced to do something, not a matter of choice. For instance, the majority of people are forced to sell their ability to work for a wage. And scarcity is an artificial situation caused by capitalism’s rule of no profit- no production.
What are the branches of economics?
The three general fields of economics are:Macroeconomics is the study of a group of individual economic agents in tandem deal with the condition of scarcity (e.g.) countries).Microeconomics is the study of the interaction of individual economic agents deal with the condition of scarcity (e.g.) firms).Mathematical economics deals with the application and analysis of mathematical and statistical methods to formulate and solve economic problems.The branches of economics are Microeconomics and Macroeconomics.Microeconomics - ("small" economics), which examines the economic behavior of agents (including individuals and firms) and;Macroeconomics - ("big" economics), addressing issues of unemployment, inflation, monetary and fiscal policy for an entire economy.macroeconomics n microeconomicsSome of the major branches of Economics are listed as under:1. Microeconomics: This is considered to be the basic economics. Microeconomics may be defined as that branch of economic analysis which studies the economic behaviour of the individual unit, may be a person, a particular household, or a particular firm. It is a study of one particular unit rather than all the units combined together. The microeconomics is also described as price and value theory, the theory of the household, the firm and the industry. Most production and welfare theories are of the microeconomics variety.2. Macroeconomics: Macroeconomics may be defined as that branch of economic analysis which studies behaviour of not one particular unit, but of all the units combined together. Macroeconomics is a study in aggregates. Hence it is often called Aggregative Economics. It is, indeed, a realistic method of economic analysis, though it is complicated and involves the use of higher mathematics. In this method, we study how the equilibrium in the economy is reached consequent upon changes in the macro-variables and aggregates. The publication of Keynes' General Theory, in 1936, gave a strong impetus to the growth and development of modern macroeconomics.3. International economics: As the countries of the modern world are realising the significance of trade with other countries, the role of international economics is getting more and more significantnowadays.4. Public finance: The great depression of the 1930s led to the realization of the role of government in stabilising the economic growth besides other objectives like growth, redistribution of income, etc. Therefore, a full branch of economics known as Public Finance or the fiscal economics has emerged to analyse the role of government in the economy. Earlier the classical economists believed in the laissez faire economy ruling out role of the government in economic issues.5. Development economics: As after the second world war many countries got freedom from the colonial rule, their economics required different treatment for growth and development. This branchdeveloped as development economics.6. Health economics: A new realisation has emerged from human development for economic growth. Therefore, branches like health economics are gaining momentum. Similarly, educational economicsis also coming up.7. Environmental economics: Unchecked emphasis on economic growth without caring for natural resources and ecological balance, now, economic growth is facing a new challenge from the environmental side. Therefore, Environmental Economics has emerged as one of the major branches of economics that is considered significant for sustainable development.8. Urban and rural economics: Role of location is quite important for economic attainments. There is also much debate on urban-rural divide. Therefore, economists have realised that there should be specific focus on urban areas and rural areas. Therefore, there is expansion of branches like urban economics and rural economics. Similarly, regional economics is also being emphasised to meet the challenge of geographical inequalities.There are many other branches of economics that form the scope of economics. There are welfare economics, monetary economics, energy economics, transport economics, demography, labour economics, agricultural economics, gender economics, economic planning, economics of infrastructure, etc.The branches of economics are Microeconomics and Macroeconomics.Microeconomics - ("small" economics), which examines the economic behavior of agents (including individuals and firms) and;Macroeconomics - ("big" economics), addressing issues of unemployment, inflation, monetary and fiscal policy for an entire economy.
Economics in the Philippines before the Spanish era?
people had iPhone's, apple products, and they were rich enough to go to the 2012 London Olympics. While the Spaniards were conquered for 360 years under African Rule eating buffalos balls and burying their mothers alive in their kitchen pantry. They ate chicken too.
What is a carpenter's rule?
Measure twice cut once
What is the relationship between law and economics?
Law and economics are closely related as they both influence each other. Economics provides the analytical framework to study how laws impact individuals, businesses, and the overall economy. In turn, laws help shape economic behavior and outcomes by setting rules and incentives for market participants. It is through this interaction that the field of law and economics seeks to optimize societal welfare by improving the legal system's efficiency and effectiveness.
What is the steep mountain road rule?
When two vehicles meet on a steep road where neither can pass, the vehicle facing downhill must yield the right-of-way by backing up until the vehicle going uphill can pass.
Which roman war was fought during domitians rule?
Emperor Domitian had Dacian war twice and a German war twice.
Why can a president only be elected twice?
because somebody made the rule
What is the difference between a rule and a property Economics?
Property is something that can be owned such as tangible items Like Houses cars etc a rule refers to the seven fundamentals notion that reflects economics and how it operates as a whole. These include scarcity subjectivity inequality competition imperfection ignorance and complexity
What has slowed economics of laos and combodia?
The country is poor and was in ruins bcause of years of cvil war and harsh communist rule
Can a vice president been vice president twice?
no in usa tere is no rule taht a vice presedent can't came twice for leadership.hope the answer of the question is..
If you answer this you rule i need to make a food invention in home economics any ideas i will need a name as well?
I already rule..lemme know what you come up with! HEY! It's YOUR homework! lol
Can you and your first cousin twice removed have any similar traits?
Certainly it can happen that you and your first cousin, twice removed, may have similar traits, but there is no rule that says it will always happen.
Cant be tried twice for the same crime is known as?
It referred to as the double jeopardy rule. A person cannot be charged for the same crime for the same actions twice.
Can you use a triple word score twice in scrabble?
No you cannot according to the official Scrabble rule book
