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What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
#explain bains theory of limit pricing theory
group trend including ionic and atomic radii,electron affinity,electronegativity,charge density and ionization potential
causes of abnormal supply curve
hoe does the knowledge of price elasticity of demand important to the government
what is cardinal utility. Please give an example
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
#questionLook up the real GDP of the U.S. for the 4th quarter of 2007 and compare it with the real GDP for the 2nd quarter of 2012. What does this tell you about the performance of
What two important functions are performed by the price system? (1) The price system is an automatic method for distributing goods and services. (2) The price system defines t
Q. Food purchases are relatively price inelastic since food is a necessity. If food is so required for life, how will we explain the heavy advertising of food items at the
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