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concept of narrowness in pure economics
The act of production involves the transformation of inputs into output. Production is a transformation of physical inputs into physical inputs into physical output. The output is
Use 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 women en
Explain the how the classical school views the role of markets and government intervention in fighting business cycles The classical school believes in the smooth functioning o
Production with Two Variable Inputs * There is relationship between productivity and production. * Long run production K& L are variable. * Isoquants analyze and compa
what the company do?
When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
Economies of scale are advantages obtained from a company becoming large and diseconomies of scale are additional costs inflicted because a firm has become very large. The causes
Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
FACTORS AFFECTING FLEXIBLE EXCHANGE RATE: Shifts in the demand and supply schedules for foreign currency take place on accountof a number of factors. Some of them are enumerat
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