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What actions could a government take in order to keep the price above market equilibrium?
There are four basic possibilities here;
1) Minimum price;
2) A tax on the good;
3) Any form of price support scheme including government purchasing of the good; and
4) Government controls limiting supply.
Suppose taht two people, Michell andJames each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle
Ask question how do I find the Price
Low standards of living: In developing nations general standards of living tend to be very low for the vast majority of the people. These low standards of living are manifest
my q is dat how can we find mathematically dat a production function is concave?
Define
5 stratgies that can be used to regulate skilled labour in developing countries
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
Hi I need help with elasticity. I think the problem has already been posted to your site.
Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
Define Law of conservation of mass, Explain briefly, Law of conservation of mass: In all physical & chemical changes the total mass of the reactants is equal to that of the produ
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