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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.
STATE AND EXPLAIN SLUTSKYS THEORM?
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Solve equation P=200-Qs and Qs=4.5p +5
Total cost curve (TC) is obtained by adding up vertically total fixed cost and total variable cost curves because the total cost is sum of total fixed cost and total variable cost
Output 0 Fixed cost $100 Varaible Cost 40 what is the Total cost and Total revenue also the Profit/Loss
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