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Why is it true that shortages usually occur mainly when price controls are in effect? In the nonexistence of price controls the shortage generally goes away quickly because price
The price at which output is sold in a perfectly competitive market is determined by
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
Q. Describe pay-as-you-go pension plan? Pay-As-You-Go Pension: A pay-as-you-go pension plan sponsor basically just pays for pension benefits to retired plan members out of its
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
Question 1: The price of the good X rises from $1.30 to $1.40. Calculate the price elasticity of demand by using the mid-point method. Question 2: How do you explain the answer
Capital Account: The capital account deals with long and short-term capital movement.These capital movements are referred to as autonomous because they take place for business o
#1 explain with the aid of diagram the effect of an increase in demand for palm oil on the equilibrum position for palm kernel
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