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Wage Labour: A form of work in that employees perform labour for others, under their direction, in return for salaries orwages. Employer controls and owns the product of the labour
(a) Describe the different types of inflation in a country. (b) Describe the trade-off between inflation and unemployment, using appropriate diagrams. (c) Mauritius has bee
if the marginal production of labor is rising, is the marginal cost of production rising or falling? Briefly explain
MRTS and Marginal Productivity The change in output from change in labor equals: The change in output from change in capital equals
#1 explain with the aid of diagram the effect of an increase in demand for palm oil on the equilibrum position for palm kernel
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
how to compute the price of a laptop increase of 20% and there is a 40% drop in the aquantity demanded
Risk Premium - The risk premium is amount of money which a risk averse person would pay to keep away from taking a risk. * Risk Premium: A Scenario - The person has a 5%
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
In the case of a tax abolition on food staples, what are the short run and long run effects?
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