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Implicit in these analyses is the fact that without government we could have neither shortage nor surplus. In large calculates, the suspicion of government is due to it has the power to make these sorts of peculiar market situations. Even with the power of government to enforce law, the only way that a shortage or surplus could occur is if the price ceiling or the price floor were efficient.
How has the haberler''s theory of opportunity cost been an improvement over the classical theory of trade
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
Explain the Human Development Index Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use
can economic laws proved universly
what is the relationship between TP, MP and AP
graphical illustrations describing the influence of an increase in immigrants on the market supply of labour
Estimating and Predicting Cost * Estimates of future costs can be obtained from a cost function, which relates cost of production to level of output and other variables which t
Assume that a persion lives for three equal periods: Youth, Early Adulthood and Late Adulthood. The person dies after later adulthood period ends. If one invests $200 in educatio
#question. what is the underlying reason for the law of increasing opportunity cost?
If the inverse demand curve is p=120-Q and the marginal cost is constant at 10, how does charging the monopoly a specific tax of r=10 per unit affect the monopoly optimum and the w
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