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Shortage
A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price to restore market equilibrium in the short term.
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
related documents, photos,paper for permission from court etc.
Double Jeopardy A condition where an entrepreneur's main source of income and net worth depend on the entrepreneur's organization.
1. Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit? 2. Explain oligopoly's structure and use game t
graphing a isoquant
So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity
2 i) Explain what are the key assumptions by the welfarist approach. ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it
Aska) Summarize the basic tenets of the arguments in thiscase b) Do you agree with main tenets of the arguments in the case? Why? Justify your answer with detailed explanations.
1. Consider the following 2-way ANOVA Table with the group number listed in the cells of the table. Factor B=1 B=2 B=3 B=4
In markets, the invisible hand allocates resources efficiently a. in all cases b. when there are positive externalities, but not when there are negative externalities c. when there
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