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Explain how the price system eliminates a shortage. A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on pr
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
explain and illustrate the changing demand for big mac using indefference curve and budget line
Capital: Broadly defined, capital represents tools that people use when they work, to make their work more efficient andproductive. Under capitalism, capital can also refer to a su
what do you understand by linear break-even point? in what way is it useful in managerial economics? what are the assumptions underlying the analysis?
explain normal profits and abnormal profits
what to produce of capitalism
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
Diversification - Assume that a firm has a choice of selling air conditioners, heaters, or both of them. - The probability of it being hot or cold is 5%. - The firm woul
Why is high unemployment considered a bad thing? High unemployment means that a nation's resources are underutilized. It also poses great psychological, economic, and social c
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