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The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a demand by its employer. In other words, the demand for any factor of production is the list of the value of its marginal productivity.
An economics branch which keep concentrate on illumination the economic decisions people make in practice, particularly when these conflict with what conventional economic theory p
Environmental economics goes back to the 19th century. Economists who research the planet are mainly worried with the idea of externalities, rare organic sources, and with the pro
The reduced row echelon form of A= is equal to R = (a) What can you say about row 3 of A? Give an example of a possible third row for A. (b) Determine the values o
The very name of this market type suggests that it is a combination of the monopoly and competitive firms. The characteristics of such a market are: 1. There exists large n
the meaning of supply
Wage Labour: A form of work in that employees perform labour for others, under their direction, in return for salaries orwages. Employer controls and owns the product of the labour
Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h
Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure. Surplus, Economic: For the economy
Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it. Often people will drive expensive cars, e
what is the total cost if the price of 10,quantity demanded is 900000, at $20 it is 800000? The author is paid 2 million dollars to write a book, the marginal cost of publishing t
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