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What are the advantages of leaving the allocation of a countrys resources to the price mechanism?
Ans) The main conditions needed are:1. Either a finite number of agents or products.2. No externalities - That is, the consumption of single person should not harm or advantage anyone else.3. No matter how much a person is consuming, they must be able to be made slightly happier by intense a bit more of something.
How is the wrong conclusion result in necessary condition not in the sufficient condition? This is often heard that the market institution must not be used based onto the fact
graphical illustration describing the influence of an increase in immigrants on the market supply of labour
Determinants of reserve price
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Describe one case that fits the story of Prisoner Dilemma in not more than 10 sentences. It should fit the following features and it should not be any of the examples we already ta
economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
Suppose that two wage regressions are estimated for native and white workers: Wn = 5.0 + 0.10S Ww = 6.0 + 0.14S Pick a reasonable average level of schooling for white and Native wo
WHAT IS A PRODUCTION FUNCTION SCHEDULE?
Comparison with Other Countries: The basic purpose of this type of comparison is that: (i) it helps us to know the potentials of growth that can be built up in an economy,
the fours laws of chemical combination
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