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Explain how the price system eliminates a shortage.A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on price.Since price rises, quantity demanded falls and quantity supplied rises. This will carry on until quantity demanded is equal to quantity supplied.
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
Dumping In the international marketing, when an organization charges less for goods than it real cost or less than the organizations charges in its home market. This procedure
Using a diagram explain the equilibrium point of a monopoly
what are the uses of cross elasticity quantity in demand/
In a small rural town, 150 people would like to be employed (this is the supply of labor). In order to make profits, capitalists hire some of these workers to produce grain. Those
describe engineering cost theory in detail
The distinction between supply and the quantity supplied is best made by saying that
John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
determination of optimal solution mathematical presentation
which three group of the periodic table contain the most elements classified as metalloids (semimetals)?
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