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Why were there not any sustained increases in material productivity of human labor back before 1500?
Since improved technology quickly ran aground on resource scarcity. As human populations grew the stocks of natural resources known had to be distributed up among more and more people: miners had to use lower-quality metal ores, farmers had to farm lesser-quality agricultural land and forests vanished. Who alive today has ever seen one of the cedars of Lebanon? In place of technological progress resource scarcity meant that efficiency of labor was little if any greater in 1500 A.D. than in 1500 B.C.
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
need help for my micro assignment
A company a product using labor (L) and raw material (R) with Q = 80L^0.2 R^0.8. If labor costs $20 per hour and raw material $40 per unit, what is the optimal combination (least c
Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.
how do cooperative and noncooperative games differ
#what is exceptional supply curve
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w
analyse the rise and fall in the price under market equillibrium situation?
The Effects of Advertising on the Demand Curve: Advertising targets to: • Change the slope of the demand curve which means make it more inelastic. This is done by generat
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