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a more simple explanation of the group equilibrium in the short and long run
if sabela can afford 4 trousers and 4 pairs of shoes.she could also use her entire budget to buy 8 trousers and 2 pairs of shoes.if the price of a trouser is 500 birr,how much is s
Price System: Demand is the quantity of a commodity that consumers are willing and are able to buy at a given price at a given time period when all other things remain the sam
When the curve that envelops the sweries of possible short-run average total cost curves is horizontal, this means that they are a. economies of scale, b. dieconomies of scale, co
#queUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more wome
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
How might a “perfect” macro equilibrium be affected by (a) a stock market crash; (b) the death of a president; (c) a recession in Canada; (d) a spike in oil prices?
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. The narrowness of the definition of the commodity
a) The production function of certain firm is given as Q = 40 K 1/2 L 3/4 A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maxim
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
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