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What is the difference between 'scarcity' and 'shortage'? 'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce go
IN THE LABORATORY OXYGEN IS PRODUCED BY HEATING POTASSIUM CHLORATE ACCORDING TO THE EQUATION 2KCLO3-2KCL+3O2. WHEN 298g OF KCLO3 IS HEATED IT GAVE 181.2g OF OXYGEN. GIVEN THAT 32g
Development: Economic development is the process through that a country's economy expands and improves in both qualitative and quantitative terms. Economic development requires co
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define and explain the concept of social efficent production
if tc is 200 what will be marginal cost?
Explain the graph as their is an increase in income
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
Why total product continues to increase despite a decrease in the marginal product?
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