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Determine the value of the marginal product of labor. Equilibrium in the Labor Market Each firm will hire labor up to the point at that the value of the marginal product of
AGRICULTURAL GROWTH AND PRODUCTIVITY TRENDS: Despite a steady decline in the share of agriculture in the Gross Domestic Product (GDP) of India, this sector continues to remain
what is the theory of second best ? prove the theorem with the help of a diagram ?
Why a high level of labor force growth is correlated A high level of labor force growth is correlated--even though less powerfully--with a low level of output per worker. The a
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a
Within analysis of perfect competition, we distinguish between the short run and the long run on the basis that use of some input factors is fixed in the short run, but variable in
Examples
what is isoquant ?
Q. Explain about Natural Monopoly? Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. T
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