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implications of market structures on price determination
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
A trust is build to acquire shares in organizations for subsequent allocation to employees over time by time.
In markets, the invisible hand allocates resources efficiently a. in all cases b. when there are positive externalities, but not when there are negative externalities c. when there
What is black marketing? Black Marketing means hoarding of sure commodity to sell it at higher prices. But it is an illegal activity in the economy and makes artificial shorta
Illustrate the measurement of inputs and outputs in production technology? Measurement of Inputs and Outputs in Production Technology This is generally most satisfactory to
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
Difficulties in Measuring Cost 1) Output data may represent an aggregate of different type of products. 2) Cost data may not include opportunity cost. 3) Allocating c
define for whom to produce
draw the following diagrams and explain their shapes: the production possibilities frontier a demand curve the demand curve for a firm in perfect competition the demand curve for a
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