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What are the advantages of leaving the allocation of a countrys resources to the price mechanism?
Ans) The main conditions needed are:1. Either a finite number of agents or products.2. No externalities - That is, the consumption of single person should not harm or advantage anyone else.3. No matter how much a person is consuming, they must be able to be made slightly happier by intense a bit more of something.
how to write an half equation
Price | Quantity demanded _________________________ 0 250 50 200 100 150 150 100 200 50 250 0 A) Calculate Lorie''s profit-maximizing output, price, and economic profit. B) Do yo
Supply function given by equation QS = 3P - 50. Write an equation proposals if: a) Government introduces subsidies of 5 $ per unit; b) the government introduced subsidies of 15%
Learning curve implies: 1) The requirement of labor falls per unit. 2) Costs will be high at 1 st and then will fall with learning. 3) After eight years the labor requ
what is marginal costs?
Malthus and the Food Crisis - Malthus predicted starvation as diminishing returns limited agricultural output and the population continued to grow. - Why did Malthus' predic
Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.
The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, h
Cost Sharing in Higher Education - Graduate Tax Another commonly suggested measure is to tax the employers employing educated manpower. The case for this method is made on the
Demand and supply curve for french breads
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