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Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
The End of the Malthusian Age We clearly no longer live in a Malthusian age. For at least 200 years improvements in the efficiency of labor made possible by new technologies a
Factors of Production : The factors of production are the resources that are essential for production. They are usually separated into 4 dissimilar groups: Land - all natu
How equilibrium is achieved under monopoly
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how might opportunity cost help to explain the pattern of international trade?
Functions
how do minimum unit costs change with changes in fixed cost?
to what extent are interest rates determined by the economic theory
consumer choice involving risk
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