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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.
What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
CONSIDER THE DEMAND CUVE Q=100-50P DRAW THE DEMAND CURVE AND INDICATE WHICH PORTION OF THE CURVE IS ELASTIC ,WHICH PORTION IS INELASTIC AND WHICH PORTION IS UNIT ELASTIC
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
monetary policy
Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
Types of unemployment: Frictional Unemployment: -It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from peop
mang ki loch kya hai
How might you determine whether flute-playing ability is a highly heritable trait? If you want to improve your flute playing and someone tells you that musical ability is heritable
assingnment on production cost
determinants of demand and determinants of supply
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