Explainthe relationship between the average cost and marginal cost curve? Answer: We usually assume that the Average Cost curve is U shaped The MC curve will intercept the AC curves at its minimum point. When AC is decreasing‚ MC lies below AC - because when MC is below AC‚ producing an extra unit of output will pull down average cots When AC is increasing‚ MC lies above AC - because when MC is above AC‚ producing an extra unit of output will raise average costs Therefore MC will intercept the AC curve
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2012-2013 Fall‚ Economics Undergraduate Exam Schedule I. YEAR Course Code-Name ECO 135 Introduction to Economics I (01) ECO 135 Introduction to Economics I (02) ECO 135 Introduction to Economics I (03) ECO 135 Introduction to Economics I (04) ECO 137 Mathematics for Economics I (01) ECO 137 Mathematics for Economists I (02) ECO 137 Mathematics for Economists I (03) ECO145 Sociology ECO 129 Introduction to Man. (01/02) ECO 131 Accounting I INR 121 Introduction Law (01/02) TKD 103(65/66) II. YEAR
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Classifications of paragraph A classification paragraph begins a main idea and discusses the subcategories of that topic‚ comparing and contrasting them with each other. Following are some examples of classification paragraphs. Here are a couple of short classification paragraphs‚ in order to get you started with learning about how they should be formed and what they are. Remember: Classification paragraphs start with a main idea‚ using the rest of the paragraph to explain a series of secondary ideas
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What are the various classifications of MIS? Explain the various views of MIS structure? Give suitable examples. MIS is classified into various types. The classification depends on the following aspects - a) Functionality b) Utility c) Area of application d) Processing type e) Frequency of usage Functionality : Various management activities like the one which deals with scheduling‚ planning‚ resource allocation‚ product design‚ processes‚ competitive strategy are the functional
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CLASSIFICATIONS OF PRODUCT INTRODUCTION: The influx of wide ranges of consumable into the Nigerian market has provided a corresponding wide range of choice to the consumers. The competitive nature of the market place has therefore become a significant factor that producers can only ignore to their own peril. The purchasing power of the consumers is also affected by the economy of the Nation. It is as a result of the se factors that manufacturers must of necessity
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Classification of Paragraph A paragraph has nine classifications. Each of these paragraphs has its own characteristics. Narrative paragraphs are usually written in a chronological order. It reveals what a reader should learn from a particular story. The narrative makes the reader more involved‚ helps an idea get across or feels emotionally about it. It needs to explain who is in the story‚ tell what is happening and when it happened. The topic sentence should be clear so that the reader knows
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The United States is the host of many of the world’s most elite athletes and sports teams. People travel around the world and come from other countries to be part of these teams. Basketball‚ baseball‚ and football are amongst the United States most favored sports. It is easy to identify and classify sports teams by the various things‚ the equipment and team components‚ as well as the attire and logos they are represented by. The United States has some of the world’s most talented athletes and
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Restaurant Classification Restaurants are found throughout the United States as well as other countries. Restaurants are found in many different places such as street corners in mobile businesses‚ buffets found in mid-sized towns and cities‚ as well as upscale restaurants that are most always found in larger and more populated areas. All of these places serve one purpose in common; to aide to the desired food cravings of countless people. A person might say that there are no noticeable differences
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Classification of market Market Definition According to Duddy and Reizan “ Market are people with money to spend and the desire to spend it.” According to Chapman “ The term market refers not to a place but to commodities ‚ buyers and sellers who are in direct competition with one another.” Classification of market • On the basis of area 1. Local Markets: it is confined to locality mostly dealing perishable and semi perishable goods like fish‚ flowers‚ vegetables etc. 2. Regional Market: covers
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*************************************************************************** I. Classification By Durability II. Classification By Tangibility III. Classification by Shopping Effort and User or by Association Classification of Products- Consumer and Industrial Consumer goods Convenience goods and services – candy‚ ATM
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