Ecs 2601 - Study guides, Study notes & Summaries
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ECS 2601 Assignment 4 (QUIZ) Semester 1 2023
- Exam (elaborations) • 9 pages • 2023
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1. In the short run, a perfectly competitive firm earning positive profit is … 
In the short run, a perfectly competitive firm earning positive profit is above its 
average total cost (ATC). This is because profit is calculated as the difference 
between total revenue and total cost. If the firm's total revenue exceeds its 
total cost, it is earning a profit. Since average total cost represents the cost 
per unit of output, if the firm is earning a profit, it means that the price it 
receives...
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.ARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS1601 UPDATED Test Questions and CORRECT Answers
- Exam (elaborations) • 79 pages • 2024
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Which of the following is/are correct? 
a) Households are confronted with unlimited wants, but with limited resources with which to 
satisfy those wants 
b) The scarcity of resources necessitate households to make choices both a and b are 
correct 
Which of the following is/are correct regarding the distinction between macroeconomics and 
microeconomics? 
a) The price of apples at the supermarket is an example of a macroeconomic variable. 
b) An increase in the general price level (inflation...
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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ECS 2601 MICROECONOMICS TEXTBOOK SUMMARY.
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