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Why is it true that shortages usually occur mainly when price controls are in effect?In the nonexistence of price controls the shortage generally goes away quickly because prices are bid up to remove the excess demand. But with price controls in effect the shortage generally persists. This helps describe why we generally only see long lines in effect while the government imposes a price ceiling like it did throughout the 1970s so-called gas crisis.
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
graphical illustration describing the influence of an increase in immigrants on the market supply of labour
discuss scarcity,choice and opportunity cost
what are he uses of a balance of payement
how to solve the credit multplier
What aspects of amino acid structure are involved in the formation and stabilisation of beta-sheets in proteins?
scope of microeconomics
Conditionality: International financial institutions (such as World Bank andInternational Monetary Fund) usually attach strong conditions to emergency loans they make to developing
Define the Production Possibilities Curve
Smoking cigarettes is a leading cause of many diseases
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