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Prices of the factors of production
As the prices of those factors of production used intensively by X producers rise, so do the firms' costs. This cause supply to fall as some firms reduce output and other, less efficient firms make losses and eventually leave the industry. Similarly, if the price of one factor of production would rise (say, land), some firms may be tempted to move out of the production of land intensive products, like wheat, into the production of a good which is intensive in some other factor of production.
Why do the inclusion of opportunity costs in cost-and-supply analyses help individuals make better decisions and improve outcomes?
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Managerial Economics helps create utility for the Society.
REGRESSIVE TAX A tax is said to be regressive when its burden falls more heavily on the poor than on the rich. No civilized government imposes a tax like this.
Shifts in the supply curve Shifts in the supply curve are brought about by changes in factors other than the price of the commodity. A shift in supply is indicated by an entir
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