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discuss the implications of various market structures(competitive and non-competitive)for price determination
using demand and supply curves explain how shortage and surplus are created
Suppose that the following equation characterizes the demand for primary education in a developing country X: Q = 100 – 2P Where Q is quantity demanded in years of schooling and
advantages and disadvantages
# define output#
1. Isoquants are negatively sloped because if the quantity of factor 1 used in production is decreased then the quantity of the other factor must be increased to produce the s
Distributive Bargaining An approach to negotiation that finds to divide up a fixed amount of resources.
Aggregate Supply When referred to in the circumstance of GNP or GDP, aggregate supply refers to the labor and capital needs to proceeds the level of products and services need
Define Disposable Incomeand dumping Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More genera
exams?
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