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Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their workers when they are on the job. Employer labour extraction strategies utilize a combination of supervision, labour discipline, technology (to control and monitor work) and threat of dismissal.
Purchasing power parity: When PPP holds, the domestic currency has the same purchasing power at home and in any other country. PPP also implies that a foreign currency will de
9. The average supernormal profit for the firm is
Explain about the specification of economics environments. Specification of Economic Environments: The primary step for studying an economic issue is to identify the econom
Explain how a floating exchange rate works and the variables which affect the rate. Define a floating exchange rate as the price of a currency (in terms of another or basket of
What is consumer surplus? What is its significance and what causes it to change?
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
How many half-lives are required for the concentration of reactant to decrease to 1.56% of its original value?
concepts of suply
scope of microeconomics
a) Explain the conditions under which a monopolist is able to price discriminate. b) Demonstrate the relationship between a firm's marginal revenue function and its relationship
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