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Posted Date: 10/9/2012 8:45:42 AM | Location : United States
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Explain the concept of opportunity cost, The concept of opportunity cost oc...
The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed
Explicit costs are accounting costs, An economist's view of costs contains ...
An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
Change in consumer taste, Change in consumer Taste/preference: Any chang...
Change in consumer Taste/preference: Any change in consumer taste or preference causes demand to change. Increased taste or preference for a particular good causes demand to inc
Labor productivity, Labor Productivity - Labor Productivity and Standa...
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
What is high-powered money, What is "high-powered money"? The "high-po...
What is "high-powered money"? The "high-powered money" is the similar as monetary base, which is defined, at the minimum, as the sum of the currency in circulation (banknotes
What is meant by non price competition, What is meant by non Price Competit...
What is meant by non Price Competition? In which market structure does it exist? None price competition is an effort put by the supplier to earn extra profit without enhancing
Structural unemployment, Structural Unemployment: This is unemploymen...
Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter
Haberler''s theory of opportunity cost, How has the haberler''s theory of o...
How has the haberler''s theory of opportunity cost been an improvement over the classical theory of trade
Monopoly, AskPharmaceutical companies can expect to earn large profits from...
AskPharmaceutical companies can expect to earn large profits from blockbuster drugs (for high blood pressure, depression, ulcers, allergies, sexual dysfunction) while under patent
Equilibrium price and equilibrium quantity of cassette, The compact disk pl...
The compact disk player has literally revolutionized the recording industry with its state-of-the-artclarity, sound, durability, and the fact that it costs less than cassette tape
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