##lim_(DeltaQ rarr 0) (DeltaTR)/(DeltaQ) = (d(TR))/(dQ)## Note in practice quantity increments in discrete numbers so: ##(DeltaTR)/(DeltaQ)## maybe more practical In real life here is what you […]
Most economists argue that low and stable inflation is consistent with economic growth but that high or unstable inflation (and especially unexpected inflation) is harmful. Inflation […]
Factors of production such as labor land and capital are variable in the long run since firms can choose to increase or decrease investments and production […]