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Labor cannot be divided from the human being who provides it. The result of the inseparability of labor from the people who gives it, is that the wage for the last hour worked must be equivalent to the utility lost from the use of that hour for leisure activities (all other activities except work.) Further, because labor is given by people who are also consumers, the wage variable (the price of labor in a labor market) is somewhat more complicated than prices in product markets.
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
2. a. Suppose the demand for saline solution is perfectly inelastic for contact lens wearers. If the government imposes a tax on saline solution, what occurs? Be sure to tell what
How is the foreign exchange rate determined
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
Explanatory research is research conducted in order to describe any behavior in the market. It could be done by using questionnaires, group discussions, random sampling, interview
Ask qdescribe average and marginal revenue under imperfect competitionuestion
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
who is a rational producer?
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