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What is meant by minimum wage?
The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are examined by the forces of supply and demand in a free market. In most cases, the minimum wage acts as a price floor. Every country sets its own minimum wage laws and regulations, and most of the countries have no minimum wage.
i) Two firms, A and B, are operating in a UK textile industry under duopolistic condition and choose to either produce at "High" price or a "Low" price. Suppose you are the man
Q. Market Income and Socialism? Market Income: A household's total pre-tax income obtained from its activities in formal economy, including salaries andwages, investment income
What happens when oil eventually runs out?? can''t we just pay doctors and nurses more money?? The unemployed should get off their backsides and get a job??
explain normal profits and abnormal profits
Financial relationship with the IMF: IMF provides temporary assistance to member countries to tide over BOP deficits. When a country requires foreign exchange, its tenders its
why is elasticity important for beachfronf properties
What is endothermic reaction? 3. Draw a generalised energy graph for an endothermic reaction.
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
what are the limitations of economies of scale?
if marginal cost descreases then what else is effected by this
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