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Indifference curve term paper
what are the advantages of a monopsonistic labour market
For the purposes of economic analysis, a normal profit contains the cost of the lost opportunity of the next best option allocation of the firms resources. In a purely competitive
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
What is optimal choice of consumer according to consumer behavior? Consumer's Optimal Choice: In the fundamental problem of preference maximization, the set of affo
how to find total revenue total cost approch in equilibrium firms
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
Frictional and Cyclical Unemployment: Frictional Unemployment: It refers to unemployment caused by changes in individual labour markets. This is the type of unemploymen
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
The State of Confidence in Conventional Judgements : While individuals fall back on conventions to guide their behaviour in the face of uncertainty, they are also aware that th
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