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What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
Wealth: This is a stock of accumulated purchasing power stored up from the past. For example, if you have a fat savings account accumulated from your past earnings, your curre
How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
Consider a hypothetical nation, Solowland, which were in the steady state. We consider a constant return to scale production function based on two production factors, labor and cap
Economic Reforms and Foreign Investment Inflows: A major objective of economic reforms was to increase foreign investment, which helps to increase capital formation of the eco
equilibrium output and prince is determined in williamson model of managerial discretion ?
a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
#queUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more wome
Solve equation P=200-Qs and Qs=4.5p +5
Which drug is likely to be the most profitable for its producer (in terms of average “per-drug” profit)?
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