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The institutional intervention theories
Collective bargaining provides an example of what is sometimes called bi- lateral monopoly; the trade union being the monopolist supplier and the employers' association the monopolist buyer of a particular kind of labour.
These who support the Bargaining strength of the trade union concerned, so that, differences in wages in different occupations are the result of the differences of the strength of the respective trade unions.
A company is selling a particular brand of tea and wishes to introduce a new flavor. How will the company forecast demand for it.
A toy manufacturer makes output according to the production function: where n is the number of workers employed by the firm, O is a technological parameter and g the worker
Elastic Supply Supply is said to be price elastic if changes in price bring about changes in quantity supplied in greater proportion. Thus, when price increases, quantity sup
What is the demand function It should be noted that by demand function, economists mean entire functional relationship which is the whole range of price-quantity relationship a
THE IMPACT OF INFLATION Inflation has different effects on different economic activities on both micro and macro levels. Some of these problems are considered below: i.
law of demand
explain the incimental principle
Problem 1: a) Explain what is meant by ‘price discrimination' and what are the different types of price discrimination. b) Under what conditions is it possible and profitabl
Disadvantages of Perfect Competition There is a great deal of duplication of production and distribution facilities amongst firms and consequent waste. Economies of sc
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz
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