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The law of supply is that producers will supply more the higher the price of the commodity. The supply curve is an upward sloping function showing a direct relationship among prices and the quantity supplied. In other words, the supply curve has a positive slope that represents that as price increase (reduces) so too does quantity supplied.
what is the application of consumer surplus
Illustrate and explain the changing demand for big mac using the indifference curve and budget line.
Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a
according to Tobin 1993,examples of Keynesian unemployment includes situation where
how to control principal agent
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
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RATIONAL EXPECTATIONS AND ECONOMIC THEORY : Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic age
1. Suppose that a monopolistically competitive firm must build a production facility in order to produce a product. The fixed cost of this facility is FC = $24. Also, the firm ha
This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe
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