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explain normal profits
In a small rural town, 150 people would like to be employed (this is the supply of labor). In order to make profits, capitalists hire some of these workers to produce grain. Those
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
is south african economic system more allocative efficient?
why does the quantity of salt tend to be unresponsive to changes in its price
1. How can a nation and its producers determine whether or not it has a comparative advantage in producing a particular good or service? a 2. The above figure show
Elastic and Inelastic Demand can be understood as follows: Slope and elasticity of demand have an inverse relationship between them. When slope is high elasticity of demand bec
Once countries already have a high level of production, how might they achieve living standards growth? Once countries achieve a high level of production, they might be achiev
What are the two main forms of economic distribution? What is the difference between them? The two major forms of economic distribution are exchange and transfer. Exchange in
With the recession, average incomes have fallen from $44,375 to $41,720. Before the recession Groucho's Gizmos sold 600 gizmos a month. As an economics, predict the number of gizm
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