Essay type of questions., economics, Microeconomics

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What is meant by minimum wage, What is meant by minimum wage?  The min...

What is meant by minimum wage?  The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are examined by the forces of sup

Assignment, Illustrate and discuss the impliction of various market structu...

Illustrate and discuss the impliction of various market structures(competitive and non-competitive)

How have falling commodity prices affected many countries, How have falling...

How have falling commodity prices affected many developing countries? Definition of commodities; raw material like copper, iron and bauxite; and agricultural goods like rice an

Determine the wage contract , Assume that the employer (principle) wants it...

Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a

Theory, who propounded the pure international theory of trade?

who propounded the pure international theory of trade?

Change in the population of consumers, Change in the population of consumer...

Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low

Price elasaticity, why does the quantity of education change in the privat...

why does the quantity of education change in the private universities much more responsive than salt as to changes in price?

What do you meant by the term economic efficiency, Problem: i) What do ...

Problem: i) What do you meant by the term ‘economic efficiency'? ii) By using appropriate examples differentiate between fixed and variable costs. iii) Consider different

What are the factors of production, Factors of Production :   The factors o...

Factors of Production :   The factors of production are the resources that are essential for production. They are usually separated into 4 dissimilar groups: Land - all natu

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