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Explain how the price system eliminates a surplus.
The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pressure on price. Since price falls, quantity demanded rises and quantity supplied falls. This will carry on until quantity demanded is equal to quantity supplied.
Molecular Energies, Translational, rational and vibration components of the energy of the molecules of a gas can be recognized. A molecule is a collection of atoms held in a pa
Given the cost function as C=0.3Q3 -2Q2 + 13Q + 25, find the supply function.uestion..
Why some country saving less and consumption more?
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please can you explainn what "down 0.1 percentage point on the quarter means"?
what is direct utility in micro economics?
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
Using the Wage Rate and Output per Hour as indicated on the table below, calculate the output per dollar wage and unit labor cost. Then decide on the optimal wage rate for this c
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