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Q. What do you meant by Enclosures?
Enclosures: A historic process in Britain and other European countries, in very early years of capitalism, in that lands formerly held and used in common were fenced off and formally assigned to private owners. This painful and regular violent process was essential to the creation of a landless, desperate new class of people who were compelled to work in new industrial factories.
What is a natural monopoly Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
demand curve
The market demand function of a firm is given by 4P + Q - 16 = 0 And the AC function takes the form AC = 4/Q + 2 - 0.3Q + 0.05Q 2 Find the Q which gives: (a) Maxim
State the example of price and price level Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level -
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
What is market clearing level and public good? Market clearing level is the price level current in the market at which consumer is willing to purchase a particular commodity f
What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.
The Value of Title Insurance While Buying a House * A Scenario: - Price of house is $200,000 - 5% chance that seller does not own house * Risk neutral buyer would pa
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