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The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction in price to restore market equilibrium in the short term.
If at point A sacks of rice is 205 and sacks of corn is 0. What is the decrease in rice production?
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Determinants of quantity supplied of a good The quantity of supplied of a product is influenced by factors such as the market price of the commodity, prices of inputs, techno
What are the two types of government cash transfer programs in the U.S., used to help households achieve income security? Provide examples of each. The two kinds of government
Summarize the four supply factors in economic growth.
What are the economic implications of income inequality? How can economic theory be helpful to analyze the causes and impact of income inequality? What are the concerns and how the
Neoclassical economics is dominant approach to economics currently taught and practiced in most of the world (and particularly dominant in Anglo-Saxon countries). It attempts to ex
discus how opportunity cost influence supplier''s decision to supply labour
What is snob effect
can average labor productivity fall even though total output is rising
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