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An Economy consists of two regions, the North & the South. The short-run elasticity of labor demand in every region is -0.5. Labor supply is perfectly inelastic within both regions
The nature and function of money The development of money was necessitated by specialization and exchange. Money was needed to overcome the shortcomings and frustrations of t
Q. Show the method of production? A process or method of production is a combination of inputs essential for the production of output. A method of production is technically eff
discuss the significance of managerial economics in regards to business strategies employed by business entities currently operating in the global economy
definition of total revenue,marginal revenue,average revenue
Determine the concept of Law of demand We have considered numerous factors which fashion the demand for a commodity. As explained the first and most important factor which determ
Opportunity Cost This is the amount that is sacrificed when choosing one activity over the next-best alternative. In organization, an example of opportunity cost is seen in th
1. A sporting goods company has hired a management consulting firm to analyze demand in 20 regional markets for one of its major products: a treadmill. The consultant uses data to
Organization for Economic Development (OECD) An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and
a) The following would most likely shift a production possibilities curve to the right? b) Money should not be considered an economic resource ? c) Which of the following is
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