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Determine The Rule of Divergence in General
Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per worker levels over the past hundred years. Since 1870 ratio of richest to poorest economies has increased six fold. Back in 1870 two-thirds of all countries had GDP per capital levels between 60 and 160 percent of the average. Today the range which holds two-thirds of all countries extends from 35 to 280 percent of the average.
when total production fall what,s the status of average product and marginal product
Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low
FOREIGN TRADE: Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports
haberlers cost theory
define opportunity cost and how it is useful in managerial decision making?
For each of following production functions, comment on the ability to substitute capital for labor. Note that Q, K, and L denote output, capital, and labor respectively. A: B
How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?
Let''s assume that a monopolist decides to maximize revenue, rather than profit. How does this operating objective change the size of the deadweight loss?
Advocacy of Globalisation: In support of the movement for globalisation, the following arguments are put forth: i) Globalisation promotes foreign direct investment and, thu
Movements of the demand curve itself, either to the left or right are known as changes in demand. A change in demand is caused by a change in one or more of the nonprice determina
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