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What is the Adam smith view of "invisible Hand"? Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his
Establish relationship between production and cost for a firm operation in perfect competition market in case of i phone
Business Meeting Etiquette: Before meetings, the correct way to arrange a meeting is to take an appointment 3 to 4 weeks before, even though it is known that generally gatherings w
can economic laws proved universly
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
Effects of inflation: On Income Earners:Those on fixed incomes or assets (fixed in nominal terms) lose. However, those on incomes, which are directly related to the price leve
Is Nigeria''s census accurate?
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
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