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As both terms on the left hand side have base 5 we know we can combine them. When dealing with logs, a minus means we can divide them, and a plus means we can multiply them. This will leave us with log5(4...
Often exams are as much about knowing what to leave out of an answer as they are about knowing what to put in. The most important thing is to read the question carefully and then set aside 10 minutes to p...
In the question we are given:Speed=10m/sForce=500NPower is work done per second and also the force times velocity.(could discuss how this works in units: W=J/s = Nm/s therefore Joules = Newton-meters )So ...
Assumptions: large no. of firms in the industry, relatively small firms, low barriers to entry, perfect knowledge, product differentiation Allocative efficiency: MC=AR and the market allocated resources s...
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