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What is ceteris Paribus?
Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equal." A prediction, or a statement about causal or logical connections among two states of affairs, is qualified by ceteris paribus in order to acknowledge, and to rule out, the possibility of other factors which could override the relationship among the antecedent and the consequent.
It is clear that monopsony in the labor market is not steady with allocative efficiency and has the effect of withholding significant amounts the employees' MRP from them, that bec
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
The East Asian Miracle However the set of extraordinarily successful economies isn't limited to the set of original OECD economies. Economies of the East Asian miracle have ove
Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in
5 reasons of make in contruction a ppc
Question 1: i) Elaborate on the different types of price discrimination that a monopolist may use and what are the required preconditions for its application? ii) What dete
explain about rent theory
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
Capital Account: The Capital Account presents transfers of money and other capital items and changes in the country's foreign assets and liabilities resulting from the transac
Why short run average cost curve is ‘U’ shaped
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