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Allocation Function
The shifting or reallocation of production property into or out of markets based on shifts in prices for the products or services produced in that market. If price moves in a technique that indicates an increase in requirement, more firms may try to enter that market and gives a supply to meet that requirement. Conversely, if price shifts in such a way that demand looks to be diminishing, several firms may choose to leave the market and direct their resources elsewhere.
Solve equation P=200-Qs and Qs=4.5p +5
The distinction between supply and the quantity supplied is best made by saying that
what is bains theory ? describe with the diagram
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
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Ask question what is frugal economy
1 Differentiate between a firm and a market. 2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand c
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Question 1: (a) Clearly illustrate the features of a perfectly competitive firm. (b) How would the same industry change if it were organized first as a competitive industr
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