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Q. Explain the Efficiency wage model?
Efficiency wage models such as Shapiro and Stiglitz (1984) suggest wage rents as an addition to monitoring, because this gives employees an incentive not to shirk their responsibilities, given a certain possibilities of detection and consequence of being fired.
Illustrate the application of economic theory to some business problems
Causes of the Nigeria recession
howw much should the firm produce to maximize its profits
Features of this system The mixed economy includes elements of both market and planned economies. The government operates and controls the public sector, which typically cons
Peanut butter monopolist Calvé supplies peanut butter to Albert Heijn in an isolated village. The supermarket is a monopolist in the village. Demand for peanut butter is given by:
a) A change in demand means that: b) On the production-possibilities drawing, unemployment is represented by:
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
Q. Optimal Input Combination for Maximisation of Output? Equilibrium conditions of the firm are identical to the above situation which is, iso-cost line must be tangent to the
Milton Friedman makes the demand for money a function of the real per capital permanent income. in this study the demand function for money is stated as; M/NPP= r( YP/NP) δ W
Meaning of Inflation There has been a proliferation of definitions of inflation. Many of these definitions, however, embody the description of the processes by which the underl
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