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Why is it true that shortages usually occur mainly when price controls are in effect?In the nonexistence of price controls the shortage generally goes away quickly because prices are bid up to remove the excess demand. But with price controls in effect the shortage generally persists. This helps describe why we generally only see long lines in effect while the government imposes a price ceiling like it did throughout the 1970s so-called gas crisis.
Question: There is widespread belief that the process of globalization has largely bypassed Sub-Saharan Africa, leaving the sub-continent in a state of marginalization in the w
NEED OF REFORMS: Presently Government offices generate a lot of paper work in the form of reports/returns, extended file movement in many cases for clarification of some mino
Illustrate the roles of mathematics in modern economics? Roles of Mathematics in Modern Economics: Mathematics has become a significant tool into modern economics. Mostly
critically analysis firm theory of profit maximization?
Graphically illustrate how society decides on the number of police officers to hire
Using tools of indifference curve, highlight on consumption in business economics.
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Define Nash equilibrium
When there is a positive expected rate of inflation (i.e., an expected and sustained increase in the levels of all prices), the Benefit Cost Ratio of a proposed project will take o
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