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a more simple explanation of the group equilibrium in the short and long run
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
Black Economy Public Policy Interface: The above mode of functioning and expansion of the black economy became an important basis for policy disruption in India. The undergrou
1. Isoquants are negatively sloped because if the quantity of factor 1 used in production is decreased then the quantity of the other factor must be increased to produce the s
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sources of oligopory
Private Returns Versus Social Returns As there is subsidisation of education by the state in all countries (and a little higher subsidisation in developing countries) it happe
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
Learning curve implies: 1) The requirement of labor falls per unit. 2) Costs will be high at 1 st and then will fall with learning. 3) After eight years the labor requ
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