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Explain why P=MC in the short-run equilibrium of the perfectly competitive firm, whereas in the long-run equilibrium P=MC=AC.
Q. Explain the problem involved in consumer price Index? To explain the problems involved in calculating CPI we consider MP3 players. If you measure the average price of MP3 pl
In a city of 120,000 people there are 20,000 Norwegians. What is the probability that a randomly selected person from the city will be Norwegian?
Using supply and demand diagrams, plus explanations of why you have drawn the supply and demand curves the way you have, explain why, in most cases. a) Garbage collectors earn mor
bank A has a leverage ratio of 10 while bank B has a leverage ratio of 20 similar losses on bank loans at the two banks cause the value of their assets to fall by 7 percent. Which
Discuss the problems of measuring productivity in actual work situations. Also how productivity might be measured for each of the following industries? Finance and insurance (examp
The United States is considered to be an industrialized nation because we have such a high standard of living. Countries with lower standards of living are considered to be emergin
Q. Explain about Labor Market in AS-AD model? In AS-AD model, economy will always be on the response curve - the thick line in chart below. Figure: The labor in the
WHO IS JOHN MANYARD KEYNES
The inhabitants of Fantasia live for two periods, 0 and 1. They consume a nonrenewable resource called Fantasium in each period. Fantasium has to be extracted from the ground and t
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