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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 price.Since price rises, quantity demanded falls and quantity supplied rises. This will carry on until quantity demanded is equal to quantity supplied.
Assume you go to the market to buy apples (x1) and oranges (x2) and discover that the price of apples is 1 euro per unit and the price of oranges is 1 per unit when you buy less th
Due Diligence The investigative procedure an investor should conduct into the operations and business strategy assumptions of an organization soliciting investors.
aid of production possibilty curve
Characteristics of prisoners dilemma
Micro Economics 1. Discuss the short-run cost-output relations. 2. Write a short note on pure competition. 3. Describe excess profit criterion. 4. Discuss the vario
technological advance reduced the cost of computer chips . explain using the demand and supply diagrams , how the the following markkets are affected in terms of price and quantiti
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The following are AC and TC functions for various firms (i). AC = 140/Q + 20 (ii) AC - a/Q = k (iii) TC - 10 =2Q + 0.1Q 2 (iv) TC - k - βQ = cQ 2 Where a, k, β and
hoe does the knowledge of price elasticity of demand important to the government
EXPLAIN KINKED DEMAND CURVE
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