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Demand Function
The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product or service. These other factors include the cost associated with making the product, the technology employed in making the goods, the number of vendors operating in a market, the price at which competing vendors are providing same products, and the supply of the product available to clients.
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
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If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
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about the price determination with the held of diagramatic explanation numerical explanation related to the concept
why the PPC curve slopes downward?
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