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what does production possibilty curve means?
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
The largest public utility company in New South Wales (NSW) is the sole provider of electricity across all regions in the state. The monthly demand for electricity in NSW is given
Why concept of Elasticity is important in economics? Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e
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#questioIn many metropolitan areas of the country, local governments often impose rent controls on apartments. The justification for doing so is that the current market rent is con
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
The accountants keep all the business transactions and records of a sole proprietorship separate from the business owner''s personal transactions and For legal purposes a sole prop
Credit Squeeze:At times private banks become reluctant to issue new credit andloans, frequently because they are worried about risk of default by borrowers. This is common at the t
Secondhand smoke globally kills more than 600,000 people each year, accounting for 1 percent of all deaths worldwide, according to a new study. . . . Researchers estimated th
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