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Which of the following conditions indicate cost minimization,assuming two inputs,labour ( L) and capital (K) ?
Microeconomist
a specialist who studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.
Macroeconomist
An economist who specializes in understanding the large-scale or general economic factors that affect economies as a whole.
Production Possibilities Frontier
A visual that outlines every conceivable highest production level for a duo of items, taking into account inputs like resources and other contributing elements.
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Rules or laws established by governments to control and guide the operations of businesses and individuals with the aim of protecting public interest.
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