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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.
advantage dis advantage of pure monopoly
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
clarify the opportunity cost theory
How elasticity is always referred to as a positive value even though it can be negative? In economics, elasticity is measures of the incremental percentage change in single va
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what is diversification
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Plot the demand schedule and draw the demand curve for the data given for Marijuana
Ask question how do I find the Price
Economic policy efficiently: The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but t
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