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Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this economy. This is due to the cost of production for the last unit of production is what shows supply, and that cost of production includes only the engineering costs. Though, this result is obtained only if all industries in that economic system are purely competitive. This is the contribution of the models of distribution formed by economists working in the marginalists traditions. The problem is that this is economic theory that is not essentially supported by empirical evidence.
Analysis of business portfolio by using Boston Consultant Group (BCG) Matrix.
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
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
advantages and disadvantages
Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de
Valence Bond Theory Explains, but does not predict the shape. Valence Bond Theory Cannot explain colour and spectra. Valence Bond Theory Qualitative explanations; does not expl
causes of abnormal supply curve
I have to make a research paper project on Investigating the buying behavior of individuals in the white goods sector and seeing if there exists any negative relationship between d
how does utility figure in the analysis of consumer demand
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
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