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Unemployment Rate
A measure of labor force utilization the unemployment rate is equal to the number of people which is unemployed as a percentage of the total labor force.
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
Discuss about Modern economic growth Modern economic growth is also a shift in the kinds of things we do at work and play and in the way we live. Back in immediate aftermath of
1. Explain how absolute advantage and comparative advantage differ? 2. Give an example in which a person has an absolute advantage in doing some thing but another pers
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
Explain about the integrability problem. The Integrability Problem: Provide a system of demand functions x(p, m). Is there essentially a utility function by which such deman
What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
what are the relevance of economics to most business today??
"A firm in monopolistic competition maximizes its profit by producing where its price is equal to its marginal cost." Is this statement correct or incorrect? Explain.
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