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(Define the concept of cost function. Derive the Long run average cost (LAC) and Long
Tun marginal cost curve (LMC) with different scale of plant of a firm that can produce in
long run. Also analyze the relationship between short run and long run condition with
appropriate examples.)
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(What is meant by marginal productivity of labour? Illustrate with example. What is the
effect of labour migration in the agriculture sector of Nepal? Criticize.)
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(How do you define the developing economy? What are the differences between
economic growth and economic development? What are the short-term and long-term
problems of economic development of Nepal? How can we solve these problems?
Analyze with examples.)
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(How do you define poverty and inequality? How are poverty and inequality measured
in Nepal? Explain systematically with appropriate examples.)
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