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Labor cannot be divided from the human being who provides it. The result of the inseparability of labor from the people who gives it, is that the wage for the last hour worked must be equivalent to the utility lost from the use of that hour for leisure activities (all other activities except work.) Further, because labor is given by people who are also consumers, the wage variable (the price of labor in a labor market) is somewhat more complicated than prices in product markets.
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Summary of Educational Planning and Economic Growth An economy with scarce resources and enormous needs and aspirations requires planning. This is true of the education sector
using the tools of an indifference curve and isoquent, highlight on consumption and production in business economics.
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Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th
please can you explainn what "down 0.1 percentage point on the quarter means"?
What is framework in the Modern Economics? Framework in the Modern Economics: The framework is a framework which uses to deal along with daily activities and is utilized to
What is the benefit (main work) of economics in our life? Economics plays a very important role in development of a country. A country's economy shows the stability of that co
Elasticities of supply and demand Other Demand Elasticities – Income elasticity of demand calculates the percentage change in quantity demanded resulting fro
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