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Explain what the phrase “price rationing” means.Price rationing is the method by which the market system assigns goods and services to consumers while quantity demanded exceeds quantity supplied.
Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h
The price of oil increases because OPEC reduces oil production
what is fixed and variable inputs with more explanation
if sabela can afford 4 trousers and 4 pairs of shoes.she could also use her entire budget to buy 8 trousers and 2 pairs of shoes.if the price of a trouser is 500 birr,how much is s
Halala is a small country that uses most of Its resources to produce fruits and vegetables. If the country produces only fruits it is able to produce 8000kg of fruit per year. If i
consumer surplus and elasticity of demand assumption of consumer surplus criticisms of consumer surplus consumer surplus in terms of indifference curves importance of the concept o
marginal conditions of pareto efficeincy
which is the following is an example of a firm''s derived demand?
As a consumer increases the consumption of any one commodity, marginal utility of the variable commodity must eventually decline."Illustrate the statement. Illustrate law of dem
The price at which output is sold in a perfectly competitive market is determined by
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