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What two important functions are performed by the price system? (1) The price system is an automatic method for distributing goods and services. (2) The price system defines t
Let''s assume that a monopolist decides to maximize revenue, rather than profit. How does this operating objective change the size of the deadweight loss?
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
Once the organization has decided to move forward with the development of a new or modified system, it is time to determine what tasks are necessary to move the project from initia
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
1.what is price mechanism? 2.how does price mechanism benefit an echonomy. 3.what are the characteristics of a centrally planned economy?
Methods of Forecasting The various methods of forecasting demand may be grouped under the followings categories: Opinion Polling Method: In this method the opinion
economic analysis of demand on retailer in ustralia
whit is mean super normal profit
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