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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
1. What is a resource market? 2. Describe resource demand and resource supply. 3. Define derived demand. 4. Describe the resource market demand and supply curve. 5. Define a te
a. Determine Australia’s market equilibrium for TV sets. i. (1) What are the equilibrium price and quantity?
Dynamic model
Draw the suitable graph for each situation and describe a real world situation in health care in which the market structure utilized in the question may exist. Demand: P=6,000-0
diagrammatically condition of consumer equilibirium
What is the difference between 'concept' and 'assumption'? These two terms are very dissimilar. The term 'concept' refers to an idea or abstract principle. For instances, forc
is south african economic system more allocative efficient?
What is market failure?
which is more dense-Rubidium or Rubidium Hydride?
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