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First of all let’s define Marginal Cost:-It is the cost to a firm to produce one additional unit of output e.g. the cost of Volkswagen to produce an extra carInitially due to the law of increasing margina...

Retrieval failure (due to absence of cues) encoding specificity principle (Tulving and Thomson)context-dependent forgetting; context at encoding and retrieval do not matchAbernethy - student study; famili...

Step 1: Times out the brackets 12x + 8 = 12 -5x
Step 2: Gather all 'x' values on one side and all non-'x' values on the other (12x + 5x = 12 - 8) -> 17x = 4
Step 3: Divide by the number next ...

International trade means that international firms can enter the UK market. This will increase supply, which in turn lowers prices and increases quantity available. This will lead to an increase in consum...

A cut in income tax will lead to a rise in income for consumers, as they are now paying less tax. This should lead to an increase in consumer spending, which boosts aggregate demand. An increase in aggreg...