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What are the important functions to maximize total surplus?
The market equilibrium maximizes total surplus since the market performs four significant functions are as follows:
1. This allocates consumption of the good to the potential buyers who value this most.
2. This allocates sales to the potential sellers who most value the right to sell the good.
3. This ensures about every consumer who creates a purchase values the good more than every seller who makes a sale.
4. This ensures that each potential buyer who doesn’t build a purchase values the good less than each potential seller who doesn’t make a sale.
How did fixed exchange rates and the Golden Standard affect the U.S. economy as well as other countries.
Economics; Different Perspective ? Economics is the knowledge of the choices taken by people who are faced with scarcity. ? Scarcity is a condition
Stock of durable goods on hand: If the economy has enjoyed an extended period of prosperity, consumers may find themselves well supplied with various durable goods, e.g. cars,
For the purposes of economic analysis, a normal profit contains the cost of the lost opportunity of the next best option allocation of the firms resources. In a purely competitive
Q1 How many types of software organization? Explain each organization style with a suitable example? Q2 What are the factors that influence the group? Q3 Write short notes
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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
project work
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
The Bloomington Electric Company operates in a stable industry and therefore has predictable dividend growth of 8% per year. The most recent annual dividend was paid yesterday in t
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