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How the above would apply to non-renewable resources such as oil.
This has general applicability to any competitive market. The issue here is that potential supply has a finite limit and that ever-lower reserves of oil mean scarcity higher price → incentive for suppliers to find additional reserves. It also means that the rationing function will kick in; higher price→ consumers will reduce quantity demanded and look for substitutes.
what is the theory of Second best? Prove the theorem with the help of a diagram.
to what extent are interest rates determined by the economic theory
Calculate the enthalpy change for stepE. that is for the reaction: Na(s)+ water (arrow) Na(ion)+ OH(ion)+ Hydrogen (g)
Hi, I am taking an economics course. I have a problem where I am given 2 types of units with the same production rate and the labor used to produce those units. I am supposed to c
Not sure how to graph & calculate a retail price of $30 & avg cost $20 assuming that the equation for demand is Q=10,000-9,000P, where P=retail price & Q=# sold per month.Then to s
reasons for and against free trade with foreign sector
example of marginal opportunity cost
IS INDIAN COMPANIES RUNNING A RISK BY NOT GIVING ATTENTION TO COST CUTTING?
Law of conservation of mass was proposed by Lavoisier & verified by Landolt. According to Law of conservation of mass law Matter is neither created nor destroyed in the course of c
Explain why both the PES and PED tend to be inelastic in the short run for primary goods. PED deals with (primarily) the ability and propensity of consumers to switch to other
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