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What is meant by minimum wage?
The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are examined by the forces of supply and demand in a free market. In most cases, the minimum wage acts as a price floor. Every country sets its own minimum wage laws and regulations, and most of the countries have no minimum wage.
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
Answer in True or Flees 1. "Revealed preference methods for valuing environmental services and goods (for example hedonic price method, travel cost model, etc.) can reveal non-
assingnment on production cost
Variability - The extent to which the possible outcomes of uncertain event may vary * Variability: A Scenario - Assume that you are choosing between two part time sales
Ask question # The price of Canadian-grown peaches skyrockets during an unusually cold summer that reduces the size of the peach harvest. b. An increase in income leads to an incr
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. The narrowness of the definition of the commodity
what total cost function yields a U-shaped average total cost function
Natural Factors: Seasonal variations may affect the demand for a commodity at certain times of the year. For example, during the raining season, demand for commodities such as j
Q. Explain Capital Adequacy? Capital Adequacy: Capital adequacy rules are loose regulations which are imposed on private banks, in hope of ensuring that they have adequate inte
The Objective Probability - 100 explorations out of which 25 successes and 75 failures - Probability (Pr) of success = 1/4 and probability of failure = ¾ Given: -
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