Micro and Macroeconomics

Long run average and marginal cost curves

1-Explain the derivation of long run average cost curve. Ans: Long-run average cost is the per unit production cost in the long run. It is c...

1-What do you mean by fiscal policy? Ans: Fiscal policy refers to the deliberate changes made by the government in its expenditure, taxation...

1- What do you mean by monetary policy? Ans: Monetary policy refers to the action taken by the monetary authorities, generally the central ...

1-What do you mean by business cycle? Explain the phases of business cycle. Ans:- Business cycle or trade cycle refers to the periodic fluct...