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Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
Low levels of productivity: In addition to low standards of living, developing countries are characterized by relatively low levels of labour productivity. Throughout the dev
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
GIVE EXAMPLES OF EACH OLIGOPOLY MODELS FROM REAL LIFE
Impact of Economic Reforms on Labour: It would be of interest to study the industrial relations scenario in the pre-reform and post-reform period. Data provided in table 8.4 r
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector D. government sector Explain
explain stages and various coordination mechanism involved in policy process
What would be a factor that would make the prospects hopeful for overcoming the demand for resources in the future
output and price determination under oligopoly market structure
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