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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.
an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
Potentials of Productivity Growth: It needs to be noted that growth in productivity witnessed in the past are an average rate at the All-India level. There are considerable re
Meaning of absolute cost difference and comparative cost difference.
Relatiön between TC ,TFC and TVC
Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio
demand for two market are P1=15-Q1&P2=25-Q2.the monopoly TC is C=5+3(Q1+Q2).What are ,output,profit&MR if the monopolist can price disc? riminate
Explain the difference between a change in quantity demanded and a change in demand. Change in quantity demanded" refers to movement with the demand curve. For instance, if th
chemistry assignments , Neutron diffraction supplements x-ray diffraction and is particularly helpful in locating hydrogen atoms. An x-ray beam is scattered primarily as a result
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
Criticisms of World trade organisation: There are critics too of the WTO. It is believed that the WTO will emerge out destructive of biodiversity and people's livelihoods by
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