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What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
graphing a isoquant
Market Demand Market Demand Curves - A curve which relates the quantity of a good that all the consumers in a market buy to price of that good. Determining Market Demand
using the indifference curve approach explain why the demand curve slope downwards from left to right...... is there any exceptions?
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
what is money? functions
What are the advantages of trade surplus
how distribution is arranged to provide customer service
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