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How would the price mechanism decide resource allocation in a competitive (free) market?The main issue it to explain how the price mechanism has a signalling, rationing and incentives function for the actors on a competitive market, creating equilibrium on the market and allocating resources in different markets.
how to estimate a regression model that tests for higher ability individuals get a greater return from schooling
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
1) A) Suppose that several months of data showed the CPI increasing at a 4.5% annual rate due largely to increases in the price of energy and food related commodities following sev
Write the formulas to show the reactants and products for the following reactions. Assume that solutions are aqueous unless otherwise indicated. Represent substances in solutions a
oxidation state of f block elements
List four characteristics of monopolistic competition
two or more variable inputs
Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but
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The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier
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