Tag: explicit and implicit costs

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Choose a product of your own choice and complete the following. Discuss which type of market does that product belong to? and why? Discuss the price elasticity of demand for this chosen product to increase total revenue.

Micro Economics Week 7: Interactive activity 7.1 Learning Outcomes 1. Explain the difference between explicit and implicit costs 2. Explain the difference between the short run and the long run […]

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