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Using commodities as an example, explain the factors influencing the PES for such goods.
The basic determinants of PES are time span included and the availability of producer substitutes.
Both of these help to outline commodities as having low PES.
It is clear that monopsony in the labor market is not steady with allocative efficiency and has the effect of withholding significant amounts the employees' MRP from them, that bec
the law diminishing marginal utility explain through flow chart
typical assumptions
example of marginal opportunity cost
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
Reasons for development planning: To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources mus
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relationship between total utilities and marginal utilities
Choosing Output in Long Run * In long run, a firm can change all its inputs, including size of the plant. * We are taking free entry and free exit. * Accounting
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