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1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
whit is mean super normal profit
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
Female-headed households: The high incidence of unemployment among the educated in general and women in a particular reflects that the pace of creation of diversified employme
if you were making the pricing decision for the gasoline company, would you cut, raise or leae the price unchanged
what is risk diversifications
SHORT PERIOD ANALYSIS: Short period in production refers to a time when some inputs remain fixed. A fixed input is one, whose quantity cannot be changed readily, whereas, a va
How might one measure differences in living standards between less developed and developed countries? This is a very wide question where any clear and relevant calculate shoul
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
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