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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.
Selective in Exports: There are many industries where India has an advantage because of relatively lower costs of all forms of manpower whether it is professional or factory l
WHAT IS OPPORTUNITY COST
Economic Growth: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income. A country is said to experience econo
1) Vitamin A Vitamin A has been chosen as the vitamin to be included in the supplement since it has a role in several functions some of which as follows: 1. Helps in proper vision.
managerial problems related to microeconomics
Price elasticity is used in economics to determine the changes in price of goods and services. It measures the change in price demanded and quality supplied. Determinants of pri
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Discuss the impact of rational self-interest on each of the following decisions
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
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