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On Valentine's Day, the price of roses increases by more than the price of greeting cards. Why? (Hint: Consider what makes roses and cards different and how that difference might affect supply's responsiveness to price.)
Q. Explain General Equilibrium? General Equilibrium: Neoclassical economics presumes that production, employment, investment and income distribution are all determined by a con
Marginal Product Theory a. What is the MC of output in the short-run? b. What is the MC of labor (employed)? c. What is the short-run profit-maximizing decision
merits and demerits of monopsony
Uses of Balance of payments account: It removes the uncertainty associated with the flexible exchange rate regime and brings stability. It also indirectly imposes some anti inf
define cost its types with curves
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
what are the limitations of economies of scale?
Black or underground or illegal economy: Black or underground or illegal economy has to be conceptualised as an integral and growing part of a variety of economies which emerg
Use 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 women en
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
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