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EC4006 2425 (T2) Fundamentals of Economics (OC)
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The break-even output occurs where:
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Abnormal profit occurs when:
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The income elasticity of demand measures:
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If the total product is 300 units when 10 employees are employed and 440 when 11 are employed:
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An increase in the wage rate would cause:
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Which of the following would be the best example of a consumer good?
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