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Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
How to prepare an assignment of Monopoly in economics#Minimum 100 words accepted#
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
what is comparative advantage
Functions of the WTO: The WTO performs the following functions: • It administers through various councils and committees the 29 agreements contained in the final act of
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Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
Consider an infinitely repeated prisoner's dilemma game by two players. The resultant payoffs at each stage by the actions of two players are given below in the table (payoffs are
how does the prices system affect a country
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