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would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Analyze the various ways in which property rights encourage economic development and make at least one recommendation for improving current laws. Explain your rationale.
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
Natural Rate of Unemployment: According to neoclassical economics, wage rate is determined by a process of labour-market clearing (in which employers and workers compete with each
What is the classical model's explanation for involuntary unemployment? According to the classical model, involuntary unemployment only increases when there is something impedi
Explain how Monetarist economics views the role of markets and government intervention in fighting business cycles. Monetarist economics believes that the government should fol
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how to solve min (x+y/2, 2y+3x, 3x)
CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects: a) The relative significance of different crops/crop groups in the overall area u
Use a PPF to explain the difference between actual and potential growth. The PPF shows possible output, taking into consideration all factors of production - but de facto outpu
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