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Determinants of quantity supplied of a good The quantity of supplied of a product is influenced by factors such as the market price of the commodity, prices of inputs, techno
Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
Explain how the price system eliminates a shortage. A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on pr
Marginal utility - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u
similarities
Qdx=-30p+0.10+4pr+4t
comparing GDP between indonesia and haiti
how to calculate the volume of exports? or what is the definition?
graphing a isoquant
Curvature of the Iso-quant: An iso-qunat is convex to the origin. This is so because as more and more units labour are employed, the producer would prefer to give up less and
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