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Devil's Advocate
Explicit role undertaken by a group member who actively questions and challenges the group's ideas, procedure, and decisions. Such active questioning helps decrease the risk of group- think.
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
if the marginal production of labor is rising, is the marginal cost of production rising or falling? Briefly explain
Where the equation of isoquent drived from?
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
Identify path of growth and development to economic maturity.
The price at which output is sold in a perfectly competitive market is determined by
What does the basic neoclassical, or traditional, model of economics assume about markets? It supposes that markets are perfectly competitive and smoothly functioning, and thos
HOW DO YOU ADJUST FISCAL POLICY FOR INTERNAL BALANCE
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